• İstanbul 22 °C
  • Ankara 19 °C

Brazil´s economy shrinks 5.4 percent Q1

Brazil´s economy shrinks 5.4 percent Q1
Country records 8 straight quarterly decline

By Senabri Silvestre

SANTO DOMINGO, Dom. Rep. (AA) - Brazil's economy shrank 5.4 percent in the first quarter of the year compared to the same period in 2015, the country’s Institute of Geography and Statistics (IBGE) said Wednesday.

It is the eighth consecutive quarterly decline for Brazil’s economy that has already contracted 4.7 percent during the past 12 months -- it’s highest recorded annual contraction since 1996.

The new numbers come as the South American country grapples with a political crisis and the threat of the Zika as it prepares to host the Olympics and Paralympics games in August and September, respectively.

The figures could lead Brazil to two consecutive years of recession for the first time since 1930.

According to the IBGE, Brazil's GDP fell 0.3 percent between January and March, compared to the last quarter of 2015, with negative growth in agriculture, industry and services activities.

Those figures beat analysts’ projections of 0.8 percent contraction.

The recession began 2015 when GDP shrank by 3.8 percent, the country's worst economic performance in 25 years.

But the bleak outlook was expected since 2014 when economic activity was virtually stagnant, growing just 0.1 percent.

source: News Feed
This news is a total 166 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
Haber Scripti: CM Bilişim