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21/08/2017 - 12:58hs

GDP dropped 0.24%, says think tank

Brazil’s economy shrank in Q2 over Q1 according to the GDP Monitor, a survey conducted by think tank Fundação Getulio Vargas.

Rio de Janeiro – Brazil’s Gross Domestic Product (GDP) declined 0.24% in this year’s Q2 in comparison to Q1. The data is part of the survey GDP Monitor, made public this Monday (21) by Fundação Getulio Vargas (FGV).

According to the survey, in Q1 the GDP had increased 0.99%. In comparison to Q2 of 2016, the decline was steeper: 0.30%. The main negative highlight in this comparison was provided by the industry’s 1.8% decline, impacted by the 7.4% drop seen by the construction industry. Investments declined 5.1%. Meanwhile, household consumption increased 0.6%, after nine consecutive quarters of decline.

In June only, the GDP increased 2.65% over May, after a decline of 5.79% in May over April.

*Translated by Sérgio Kakitani

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