Brazil Economy Shrinks Less Than Estimated in First Quarter

Brazil’s economy contracted less than economists forecast in the first quarter, as the country braces for the biggest recession in 25 years.

Gross domestic product contracted 0.2 percent from the previous quarter, the national statistics agency said in Rio de Janeiro on Friday. That was a better result than expected by all but four of 42 economists surveyed by Bloomberg, whose median forecast was for a 0.5 percent decline.