Economics
Strike and Domestic Turmoil Threaten Brazil’s Recovery
- Economy grew more than forecast in Q1, but downside risks rise
- Nationwide trucker strike expected to weigh on growth in 2018
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Family consumption and lower interest rates supported a faint recovery of the Brazilian economy in the first quarter, even as strikes and political uncertainty weigh on the outlook for the year.
Gross domestic product expanded 0.4 percent from the previous three-month period, slightly above the median 0.3 percent estimate from 39 economists surveyed by Bloomberg. GDP rose 1.2 percent versus the same quarter of 2017, the national statistics institute said Wednesday. The institute also slightly revised upward data from the third and fourth quarters of 2017.