Brazil’s Q1 GDP Growth Rate Continues to Show Retraction

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Brazilian economy continues to deteriorate after registering the worst annual GDP result in 25 years in 2015, with the GDP growth retracting another 0.3 percent during the first quarter of 2016, according to the Brazilian Institute of Geography and Statistics (IBGE).

The Institute released the Q1 result on Wednesday, June 1st, showing a negative result for the GDP for the fifth consecutive quarter. In comparison to the first quarter of 2015, the GDP growth retraction was of 5.4 percent, totaling R$1.47 trillion during the first . . .

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