GDP in the First Quarter and Perspectives

BRAZIL ECONOMICS - Report 01 Jun 2020 by Affonso Pastore, Cristina Pinotti, Marcelo Gazzano and Paula Magalhães

In Brazil, the reaction to the pandemic only started in earnest in the second half of March, but this was sufficient to provoke 1.5% contraction in GDP for the first quarter. Although a campaign is clearly underway to relax the social distancing, the contagion curve is still increasing exponentially, indicating that by one way or another the pandemic will persist, more severely undermining GDP in the second quarter. So far, we have not altered our projection for 7% contraction of GDP in 2020. However, as will be shown in this report, the most recent data from the job market indicate the decline will likely be greater. In the final analysis, before the start of the pandemic, the only demand component sustaining recovery was household consumption, which is set to contract in the second quarter a good deal more than in the first.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.