SAO PAULO/RIO DE JANEIRO (Reuters) – Brazil’s Gross Domestic Product (GDP) contracted in the third quarter, the second quarterly fall in a row, a result that indicates a technical recession in the Brazilian economy.
Between July and September, GDP dropped 0.1% compared to the three immediately previous months, informed the Brazilian Institute of Geography and Statistics (IBGE) on Thursday.
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In the second quarter, the Brazilian economy had registered a drop of 0.4% on the same basis of comparison, in data revised by the IBGE of a 0.1% retreat informed earlier. Two consecutive quarters of contraction are considered a technical recession.
The expectation in a Reuters survey was stability in the third quarter over the previous three months.
Compared to the third quarter of 2020, GDP expanded by 4.0%, against an expected high of 4.2% on this basis of comparison.
(By Camila Moreira and Rodrigo Viga Gaier)
Brazil’s post GDP contracted 0.1% in the 3rd quarter and economy enters technical recession appeared first in ISTOÉ DINHEIRO.
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