Brazil experiencing a recession
BRASÍLIA (BDCi) – Recent figures show that the Brazilian economy has fallen into a recession, typically defined as two consecutive quarters of contraction.
With the general election for president just a month away, recent polls indicate that Dilma Rousseff would lose if a second round of voting were to be held.
The country’s GDP fell by 0.6% in the three months leading up to June, and the now revised figures show a 0.2% fall for the first quarter of the year as well.
According to other data, investments, manufacturing and civil construction all suffered during the second quarter.
Despite hosting the 2014 World Cup earlier this year, the mega soccer event in general was not regarded as good for Brazilian business.