Brazil: Economy enters recession in second quarter
August 29 , 2015
Brazil’s economy has entered a recession, with official data indicating that it shrank by 1.9% between April and June compared with the previous quarter.
While analysts were expecting a contraction, the figures are worse than expected.
The output in the January to March period has also been revised down, and now shows a 0.7% contraction from the earlier 0.2%.
Brazil, the world’s seventh-largest economy, has registered a decline in economic growth in recent years.