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.
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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).