Brazil's economy grows 1.0pc in Q1

BRASÍLIA, June 2 (AFP): Brazil's economy grew one per cent in the first quarter of the year, the government said Thursday, though surging inflation continues to hurt the Latin American giant.

The expansion, which was in line with analysts' forecasts, was driven by growth of one per cent in the services sector, which compensated for a 0.9 per cent contraction in the agricultural sector, said the national statistics institute, IBGE.

It also revised its economic growth figures for 2021, erasing reference to what had been labeled a recession in the second and third quarters of the year.