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5 months ago
Brazil's recession steepens in Q4, becomes worst on record
March 7, 2017 / 12:11 PM / 5 months ago

Brazil's recession steepens in Q4, becomes worst on record

BRASILIA, March 7 (Reuters) - Brazil's gross domestic product contracted by 3.6 percent in 2016, statistics agency IBGE said on Tuesday, confirming the country's worst recession on record after a larger-than-expected drop in the fourth quarter.

Brazil's economy shrank 0.9 percent in the fourth quarter versus the third after seasonal adjustments, following a 0.7 percent drop in the previous three months.

Reporting by Silvio Cascione; Editing by Daniel Flynn

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