Brazil exits recession with fastest growth rate since 2013

Record ID: 877657

  • Title: Brazil exits recession with fastest growth rate since 2013
  • Date: 1st June 2017
  • Summary: RIO DE JANEIRO, BRAZIL (JUNE 1, 2017) (REUTERS) CLOSE-UP OF BRAZILIAN INSTITUTE OF GEOGRAPHY AND STATISTICS (IBGE) LOGO OUTSIDE OFFICES CLOSE-UP OF REPORT ON GDP GROWTH IN FIRST TRIMESTER JOURNALISTS IN NEWS CONFERENCE PRESENTER'S HAND POINTING TO STATISTICS ON PRESENTATION NATIONAL ACCOUNTS COORDINATOR AT THE BRAZILIAN INSTITUTE OF GEOGRAPHY AND STATISTICS, REBECA DE LA ROCQUE PALIS, EXPLAINING PRESENTATION GENERAL VIEW OF NEWS CONFERENCE (SOUNDBITE) (Portuguese) NATIONAL ACCOUNTS COORDINATOR AT THE BRAZILIAN INSTITUTE OF GEOGRAPHY AND STATISTICS, REBECA DE LA ROCQUE PALIS, SAYING: "We had some growth in this trimester which was quite expressive in some respect, only that this was in relation to the lower starting point we had after eight straight trimesters of contraction. We will see what happens from now going forward." SAO PAULO, BRAZIL (JUNE 1, 2017) (REUTERS) CLOSE-UP OF MONEY BEING COUNTED IN A SHOP CLOSE-UP OF CREDIT CARD BEING USED IN A SHOP GENERAL VIEW OF BUSY SHOPPING STREET RIO DE JANEIRO, BRAZIL (JUNE 1, 2017) (REUTERS) CLOSED ELECTRICAL STORE ENTRANCE TO ELECTRICAL STORE VARIOUS CLOSE-UPS OF SALE SIGNS
  • Embargoed: 15th June 2017 17:00
  • Keywords: gdp economy recession
  • Location: RIO DE JANEIRO AND SAO PAULO, BRAZIL
  • City: RIO DE JANEIRO AND SAO PAULO, BRAZIL
  • Country: Brazil
  • Topics: Budget/Taxation/Revenue,Government/Politics
  • Reuters ID: LVA0016JG662R
  • Aspect Ratio: 16:9
  • Story Text: Brazil's economy emerged from its worst recession on record with its fastest growth rate in nearly four years, government data showed on Thursday (June 1), in some good news for President Michel Temer as he battles a corruption scandal.
    Brazil's gross domestic product grew by 1.0 percent in the first quarter from the preceding one, statistics agency IBGE said, the fastest pace since the second quarter of 2013.
    The increase, the first after eight quarters of contraction, matched the median forecast of economists polled by Reuters.
    IBGE also revised up fourth-quarter data to show that Latin America's largest economy contracted 0.5 percent in that period, and not 0.9 percent as originally reported.
    The end of Brazil's deep recession bodes well for the unpopular Temer, who has resisted protests for his resignation after the Supreme Court opened an investigation against him for corruption and obstruction of justice.
    The country's deepest and longest downturn since records began in 1901 has caused massive unemployment and helped topple former President Dilma Rousseff last year, who was impeached for breaking budget rules and had record-low approval ratings.
    Brazil's economy shrank 0.4 percent in the first quarter from the year-earlier period, following a 2.5 percent drop in the previous quarter.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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