SÃO PAULO—Brazil’s economic expansion continued in the first quarter as the country’s vital agricultural sector expanded rapidly from the previous three-month period.
Gross domestic product grew a seasonally adjusted 0.4% in the first quarter from the last three months of 2017, and expanded 1.2% from the same period a year earlier, Brazil’s statistics agency said Wednesday.
Brazil’s economy suffered its worst recession on record during 2015 and 2016, and began a recovery at the start of last year, eventually expanding 1% during 2017.
The agricultural sector grew 1.4% in the first quarter from the last three months of 2017, while contracting 2.6% from the same period a year earlier. Industry grew 0.1% in the quarter and 1.6% from a year earlier, while investment increased 0.6% in the quarter and 3.5% from a year earlier. Services expanded 0.1% in the quarter and 1.5% from a year earlier.
Household spending increased 0.5% in the quarter and 2.8% from the previous year. Government spending shrank 0.4% from the fourth quarter and decreased 0.8% compared with a year earlier.
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