Brazil officially ended the worst recession in its history in the second quarter, providing some relief to the scandal-hit centre-right government of President Michel Temer.
Brazil’s gross domestic product expanded 0.2 per cent in the second quarter compared with the previous three months, the second consecutive period of quarterly growth, helped by a strong agricultural sector and a recovery in private consumption.
“It’s a decent number, nothing to write home about, but we see the early dynamics of a cyclical recovery,” said Alberto Ramos, economist with Goldman Sachs.
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