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Brazil enters slight recession in the third quarter

2021-12-02T12:50:15.666Z

GDP contracted 0.1% after falling 0.4% over the previous three months. Brazil, the largest economy in Latin America, entered a recession in the third quarter, with a contraction of 0.1% of its GDP, announced Thursday the Institute of Statistics IBGE. This is the second quarter in a row of decline, after the 0.4% contraction in Gross Domestic Product in the previous quarter, which put a halt to the recovery seen after the shock created by the coronavirus pandemic. las



Brazil, the largest economy in Latin America, entered a recession in the third quarter, with a contraction of 0.1% of its GDP, announced Thursday the Institute of Statistics IBGE.

This is the second quarter in a row of decline, after the 0.4% contraction in Gross Domestic Product in the previous quarter, which put a halt to the recovery seen after the shock created by the coronavirus pandemic. last year.

Brazilian GDP grew 4.0% from Q3 2020, IBGE added.

Read alsoEU-Mercosur Agreement: Brazil intends to boost its economy

A panel of analysts had expected a variation in GDP located in a range between + 0.3% and -0.6%.

The second quarter figure initially showed a slight drop in GDP of -0.1% compared to the previous quarter, but has been revised (-0.4%), said the IBGE.

The contraction of GDP in the third quarter is partly attributable to a marked drop in agricultural production (-8% compared to the previous quarter).

Source: lefigaro

All business articles on 2021-12-02

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