RIO DE JANEIRO, BRAZIL - The FGV's GDP Monitor shows that economic activity shrank by 4% in 2020. The data was released today, February 19th, by the Brazilian Institute of Economics of the Getúlio Vargas Foundation (Ibre/FGV).
In terms of production, among the three major sectors (agriculture and livestock, industry and services), only agriculture and livestock grew in the year (2%). Meanwhile, in terms of demand, all components shrank, particularly household consumption, with a 5.2% drop in the year.
According to the FGV-GDP Monitor coordinator, Claudio Considera, the marked 4% drop in the economy in 2020 . . .
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