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Brazil's economy contracts 0.1% in second quarter, slowdown sharper than expected

reuters.com · 09/01/2021 08:08
Brazil's economy contracts 0.1% in second quarter, slowdown sharper than expected

- Brazil's economy contracted by 0.1% in the three months to June, government statistics agency IBGE said on Wednesday, as a recovery stalled more than consensus market expectations.

The decline in Brazil's gross domestic product (GDP) from the prior quarter was worse than the median forecast for 0.2% growth in a Reuters poll of economists and marked a sharp slowdown from 1.2% growth in the first quarter of the year.

The economy's 12.4% jump from a year earlier was also less than the 12.8% rise economists had expected from a pandemic-hammered baseline.


(Reporting by Brad Haynes;
Editing by Stephen Eisenhammer)

((brad.c.haynes@tr.com; +55 11 5644 7725; Reuters Messaging: brad.c.haynes.thomsonreuters.com@reuters.net))