May 30, 2019 / 12:13 PM / 3 months ago

Brazil's GDP shrinks 0.2% in Q1, first contraction since 2016

BRASILIA, May 30 (Reuters) - Brazil’s economy shrank in the first quarter of this year, contracting 0.2% from the prior quarter, statistics agency IBGE said on Thursday, the first contraction since 2016.

The fall in Brazil’s gross domestic product (GDP) was in line with the 0.2% median estimate in a Reuters poll of economists. The economy grew 0.5% from a year earlier, also in line with a 0.5% expansion forecast by economists. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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