Brazil’s Economic Growth Disappoints for Fifth Quarter

Brazil’s growth unexpectedly slowed in the first quarter, complicating government efforts to revive the economy as it battles inflation. Swap rates fell.

The economy expanded 0.55 percent in the January-March period, the national statistics agency said today in Rio de Janeiro. Gross domestic product increased less than the 0.9 percent median forecast of analysts polled by Bloomberg, the fifth straight quarter of slower-than-forecast growth. On an annualized basis, the expansion decelerated to 2.2 percent, down from 2.6 percent in the fourth quarter of 2012.