Brazil’s Economy Stalls as Boost From Super Harvest Fades
- Output failed to growth for a second straight quarter
- Brazil’s economy expanded 2.9% for the full-year 2023
Shoppers at the Barra Shopping mall in Rio de Janeiro.
Photographer: Lucas Landau/BloombergThis article is for subscribers only.
Brazil’s economy stalled for a second straight quarter as consumers rein in spending and the boost from strong crop yields fades, likely foreshadowing harder times ahead for President Luiz Inacio Lula da Silva.
Official data released Friday showed gross domestic product was flat in the October-December period compared to the prior quarter, below the 0.1% median estimate from analysts surveyed by Bloomberg. Brazil’s GDP expanded 2.9% for the full-year 2023.