Brazil worsts its recession and GDP falls 5,4%

Brazil worsts its recession and GDP falls 5,4%

02/06/2016 source “Expansión”

The Brazilian economy, the largest in South America, worsened its recession in the first quarter of the year, with the fall of 5,4% of GDP, compared to the same period of 2015, according to the Brazilian government.

Compared with the data from the last quarter of last year, released by the Brazilian Institute of Geography and Statistics (IBGE), the contraction was 0,3%.

The result therefore confirms the most pessimistic forecasts of analysts, who expect to this year a contraction similar to last year, its worst result in 25 years.