Brazil Slides to 7th World Economy: Daily

By Ben Tavener, Senior Contributing Reporter

SÃO PAULO, BRAZIL – After celebrating becoming the world’s sixth largest economy and relegating the UK to the number seven spot at the end of 2011, Brazil’s economy has slid back to its previous position, after GDP (gross domestic product) figures for both countries for 2012 were revised. 

Brazil’s GDP total for 2012 – the value of all goods and services produced over the year – was revised down to 0.9 percent by the IBGE (Brazilian Institute of Geography and Statistics).

Economists suggest this is at least partly due to the decline . . .

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