Reuters.- Brazil’s economy contracted slightly in the three months through September, the Brazilian Institute of Geography and Statistics (IBGE) reported Thursday, marking a recession in Latin America’s largest economy.
The Brazilian economy fell 0.1% in the third quarter of the year compared to the second and entered a “technical recession” after completing two consecutive quarters of retraction, since between April and June it had fallen by 0.4%, the Government reported this Thursday.
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The gross domestic product (GDP) of the largest Latin American economy, however, accumulated an expansion of 3.9% in the last twelve months to September compared to the immediately previous year.
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