The Brazilian economy has entered technical recession

The Brazilian economy has already entered a technical recession, according to an official report issued by the Central Bank, which anticipates certain indicators on the evolution of the gross domestic product of the main Latin American economy and Argentina's largest trading partner .

In a statement, the Central Bank released the index of economic activity, which indicates that in the second quarter of 2019, the economy had fallen by 0.13%.

In the first quarter, the Brazilian economy shrank by 0.2%, which means that with two consecutive quarters of negative results, it is technically considered that a country is entering recession.

The first half of Jair Bolsonaro to the government, according to Central Bank figures, there has been a recession in Brazil, although the official data of the Brazilian Institute of Geography and Statistics (IBGE) remain to come.

As every Monday, the Brazilian monetary authority released the Focus Bulletin, which indicated that the perception of economic growth by financial market agents in 2019 had fallen to 0.81%, while an index of 3.76 was expected for inflation. annual percentage below the target of 4.5%.

Over 12 months cumulated, the economic expansion is 1.08%.

The government had to review its projection, which began the year with a forecast of 2.3%.

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