Brasil enters recession as Q2 growth slides

By AAP

The IGBE said on Friday that the GDP shrank 0. 6 per cent in the second quarter, and 0. 2 per cent in the first quarter, which it revised down from 0. 2 per cent growth.

The Rousseff administration has cut growth forecasts for the year to 1. 8 per cent but market forecasts are for 2014 GDP to grow by barely 0. 7 per cent.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Last year Brazil recorded GDP growth of 2. 5 per cent.

The second quarter decline was steeper than the 0. 4 per cent predicted by a cross-section of leading economists.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Brazil is in recession after Latin America's largest economy contracted during two successive quarters, the National Statistical Institute (IGBE) reports.

After 2010 saw GDP soar 7. 5 per cent 2011 saw an increase of just 2. 7 per cent before 2012 brought just a 1. 0 per cent rise.

Read more here: Business Spectator

    

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