Brazil’s gross domestic product (GDP) is up 0.4% in the first quarter of 2018 from the last quarter of 2017, as per figures released Wednesday morning (May 30) by the Brazilian Geography and Statistics Institute (IBGE).
The economy was also seen to expand against the same period last year—1.2%.
Claudia Dionísio, IBGE’s manager for national accounts, noted that, “if we were to draw a comparison, we’d be at the same level as the first quarter of 2011.”
Dionísio added that the economy had grown until 2014, and receded in the following years, during the crisis, until it reached the 2010 indicator. Then, rises have been posted once again since the beginning of 2017.