Brazil economy down 0.3% in Q1 2016

In the first quarter of this year, the gross domestic product (GDP— the sum of all good and services in the country) dropped 0.3%. Last year, the GDP stood at 3.8%, the highest rate since the historical series began in 1996.

Data of Brazil's economy for the first three months of the year were released today (Jun. 1) by the Brazilian Institute of Geography and Statistics (IBGE).

The GDP's fall in the first quarter leads to declines in all sectors of the economy, particularly in investment in capital goods, down 2.7% compared with the previous quarter. The rate is followed by the the one for industry, down 1.2%, agriculture, down 0.3, and services, down 0.2%.

Translated by Amarílis Anchieta