Brazil GDP Contracts for 6th Straight Quarter

The Brazilian economy shrank 4.5 percent year-on-year in the third quarter of 2015, sixth consecutive contraction and the worse since modern records began in 1996.

Household spending went down 4.5 percent, investment dropped 15 percent and government expenditure edged down 0.4 percent. Exports went up 1.1 percent while imports fell 20 percent. 

On the production side, the services sector fell 2.9 percent, mainly hurt by a 9.9 percent drop in internal trade and a 7.7 percent decrease in transportation and communication. The industrial sector went down 6.7 percent: manufacturing slumped 11.3 percent and construction decreased 6.3 percent while mining grew 4.2 percent and utilities increased 1.5 percent. In addition, agricultural output dropped 2 percent.

On a quarterly basis, the GDP contracted 1.7 percent

Brazil GDP Contracts for 6th Straight Quarter

Joana Taborda |
12/1/2015 11:58:47 AM