Rio de Janeiro – Brazil’s Gross Domestic Product (GDP), the sum of all goods and services produced in the country, fell 0.6% in Q2 from Q1 as per seasonally adjusted numbers. In Q2 from the year-ago period, GDP shrank by 3.8%. From January through June, GDP shrank by 4.6% compared with the first half of 2015.
The quarterly national accounts report released this Wednesday (31) by the Brazilian Institute of Geography and Statistics (IBGE) shows GDP shrinking 4.9% in the four quarters through Q2 2016 from the prior four-quarter period. In current values, the Brazilian GDP reached BRL 1.5 trillion in Q2 2016.
The 0.6% GDP drop seen in Q2 means Brazil’s economy has shown contraction for six straight quarters. Contrary to expectations, industry prevented the GDP from falling even further, with 0.3% growth, while agriculture and services activity slid 2% and 0.8%.
*Translated by Gabriel Pomerancblum
