We analyze GDP data in detail to understand the impacts of the coronavirus crisis in Brazil. Political violence could be part of our “new normal.”
The anatomy of impending crisis
Brazil’s GDP dropped 1.5 percent in the first quarter of 2020, announcing the beginning of what could be the worst Brazilian recession on record. This crisis will be unlike all others, warns Rebeca Palis, head of National Accounts at the Brazilian Institute of Geography and Statistics. “For the first time in our recent history, the economy is suffering a shock in both demand and supply,” she says.
- On the production...