Macroeconomy/Finance

GDP drops 9.7% in Q2 and Brazil goes into recession

Brazil’s GDP fell 9.7% in the second quarter, compared to the first three months of the year due to the impact of COVID-19, according to IBGE. As a result, the Brazilian economy officially enters a technical recession, characterised by two consecutive quarters of shrinking activity levels.

Source: G1

Categories: Macroeconomy/Finance