News

GDP shrank 0.3% in Q1

01 de junho de 2016

Brazil’s Gross Domestic Product reached BRL 1.47 trillion from January through March as per a survey from the Brazilian Institute of Geography and Statistics (IBGE). All three sectors of economy contracted.

São Paulo – Brazil’s Gross Domestic Product (GDP) shrank 0.3% in Q1 this year from Q4 2015 to BRL 1.47 trillion, the Brazilian Institute of Geography and Statistics (IBGE) reported this Wednesday (1).

The IBGE said all three sectors of economy contracted. Agriculture shrank 0.3%, industry shrank 1.2% and services shrank 0.2% year-on-year in Q1. In Q1 from Q1 2015, Brazil’s total GDP was down 5.4%.

The last time the Brazilian economy saw quarter-on-quarter growth was in Q4 from Q3 2014, at 0.2%.

*Translated by Gabriel Pomerancblum