Brazil's Economy Contracts The Most in 6 Years

The Brazilian GDP shrank by 1.6 percent year-on-year in the first three months of 2015. It is the fourth consecutive contraction as domestic demand and investments struggle to gain traction.
Joana Taborda | 5/29/2015 2:37:59 PM
Gross fixed capital formation shrank 7.8 percent, government spending decreased 1.5 percent and household consumption fell 0.9 percent. Exports rose 3.2 percent while imports decreased 4.7 percent. 

On a quarter-on-quarter basis, the economy shrank 0.2 percent in the first quarter of 2015, better than market expectations of a 0.5 percent drop but down from a 0.3 percent rise in the previous period.