Business

Brazil escapes recession … just about

gdp brazil recession

Investors breathed a sigh of relief this morning as the Brazilian economy escaped a technical recession, posting 0.4 percent GDP growth in the second quarter of 2019. Shortly after the news, Brazil’s benchmark stock index Ibovespa rose 1,000 points and is currently operating  1.13 percent up for the day. However, despite slightly better than expected results, the Brazilian economy still has a long way to go to reach full recovery.

Despite the slim margins, the results still surprised specialists, who expected growth of 0.2 percent in comparison to Q1. Quarterly performance was boosted by industry, which grew 0.7...

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