Brazil’s Recession Worse than Expected

Brazil’s economy has entered a recession that is worse than formerly expected. In the second quarter of the year, all three activities ––agriculture and fishing, the service sector and industry–– show negative growth of 1.9 percent on the previous semester. Investment fell 8.1 percent and household consumption 2.1 percent. Unemployment hit a five-year high and consumer prices jumped 9 percent in 12 months. teleSUR