Brazil GDP shrinks 1.5% in Q1 2020 due to pandemic

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The 1st quarter drop in Brazil's gross domestic product only reflects the early effects of the coronavirus crisis, with 2nd quarter numbers expected to be much worse.

Figures for the month of March suggest that the 2nd quarter numbers will be catastrophic.

"In Brazil, the same thing happened as in other countries affected by the pandemic, with a decline in services aimed at families due to the closure of shops," according to IBGE analyst Rebeca Palis.

 

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