Brazil is in technical recession after the country’s national statistical institute unveiled a 0.6 percent drop in second quarter GDP on Friday, while revising the Q1 figure down from 0.2 to -0.2 percent.
The figures, coming barely a month before the country goes to the polls for presidential and elections, will worsen already low industrial and consumer confidence in Latin America’s biggest economy.
COMMENTS
Please let us know if you're having issues with commenting.