Brazil | A milder GDP contraction in 1Q16
Published on Wednesday, June 1, 2016
Brazil | A milder GDP contraction in 1Q16
Summary
GDP fell 0.3% QoQ in 1Q16, less than in the previous quarters and also than expected. Net exports contributed positively to growth more than expected and were the main driver of the milder decrease of GDP in the period. Today's figures are in line with our view that the intensity of the recession will decline over the year and that GDP will drop "only" 3.0% in 2016.
Geographies
- Geography Tags
- Latin America
- Brazil
Topics
- Topic Tags
- Macroeconomic Analysis
Tags
- Tags
- GDP
- Economic activity
Authors
Enestor Dos Santos
BBVA Research - Principal Economist