RIO DE JANEIRO, BRAZIL - On Thursday, June 4th, the Federation of Industries of the State of Rio de Janeiro (FIRJAN) released its projections, showing a 6.4 percent drop in the State's Gross Domestic Product (GDP) in 2020.
Should these projections be confirmed, this will be the worst result of a historical series that considers data released by the Brazilian Institute of Geography and Statistics (IBGE) since 2002, when the methodology was last changed.
The federation's estimates show that in the first quarter of the year there was a 0.6 percent drop compared to the same period . . .