Brazil Economy Shrinks 0.6 Percent in Second Quarter


Latin America’s largest economy shrank more than expected in the second quarter as Brazil’s worst recession in decades nears its end.

Brazil’s gross domestic product contracted 0.6 percent in the three months ended in June, after a revised 0.4 percent drop in the previous quarter, the national statistics institute said Wednesday. The figure was worse than the median estimate for a 0.5 percent decline from 46 economists surveyed by Bloomberg. From a year earlier, GDP shrank 3.8 percent after a 5.4 percent drop in the previous quarter.

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