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.
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.
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