Brazil GDP down 0.24% in Q2

Brazil's Gross Domestic Product (GDP) shrank 0.24% in the second quarter of 2017 compared to the first quarter, when it had increased 0.99%, Fundação Getúlio Vargas (FGV) reported in Rio today (Aug. 21).

Compared to the second quarter of 2016, there was an even sharper fall of 0.30%. A 1.8% slip in industry, led mainly by construction's 7.4% decline, was the main factor leading to the overall GDP fall.

The monthly GDP in June was 2.65% bigger than in May, following a 5.79% decrease from April.

According to FGV, the cumulative GDP for this year's first half reached about $1.014 trillion.

Translated by Mayra Borges