RIO DE JANEIRO – Brazil’s economy posted a second consecutive quarter of growth on the back of a rebound in consumer spending, reinforcing hopes for a recovery from the country’s worst recession on record.
Brazil’s gross domestic product expanded 0.2% in the second quarter from the first in seasonally adjusted terms, the Brazilian Institute of Geography and Statistics, or IBGE, said Friday. GDP was up 0.3% from the second quarter of 2016.
Growth slightly exceeded the median estimate in a survey of economists by the local Agência Estado newswire, which had predicted GDP would remain flat.
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(END) Dow Jones Newswires
September 01, 2017 08:40 ET (12:40 GMT)