Rio de Janeiro – Brazil’s Gross Domestic Product (GDP) shrank by 0.5% in the three months through July from the three months through April. The number is from the GDP Monitor survey made public this Wednesday (19) by think tank Fundação Getulio Vargas (FGV).
Year-on-year, the economy grew by 0.5%. In the 12 months through July, GDP was up 1.5%.
The 0.5% drop in activity was driven by industry (-1.9%) and services (-0.4%). Agriculture was the only sector to see growth (2.8%).
The official GDP number in Brazil is the one from the Brazilian Institute of Geography and Statistics (IBGE).
Translated by Gabriel Pomerancblum
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