Brazil\\\'s economy slips into a recession
Friday, 29 August 2014
Brazil's government says the country's gross domestic product contracted 0.6 per cent in the second quarter compared with the previous three months, sending the country's economy into a recession. The government's IBGE statistics bureau said Friday it was the second consecutive quarterly contraction of the economy. In the first quarter of the year, GDP was reported as having grown 0.2 per cent. But that figure was revised downward to minus 0.2 per cent. The IBGE says the country's GDP stands at 1.27 trillion reals ($567 billion), according to AP.