Brazil economy likely shrank in first quarter for first time since 2016: Reuters poll

Brazil’s economy likely shrank in the first quarter of this year for the first time since 2016, a Reuters poll of economists showed on Tuesday, with activity hit by delayed fiscal reforms, weak investment and rising unemployment.

If confirmed, it will be the first contraction since a deep 2015-2016 recession from which the economy has failed to recover — putting the country half way toward a double-dip recession.

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