August 29, 2019 / 12:10 PM / 18 days ago

Brazil's economy grows 0.4% in Q2, faster than expected

BRASILIA, Aug 29 (Reuters) - Brazil’s economy expanded 0.4% in the second quarter of this year from the prior quarter, statistics agency IBGE said on Thursday, twice the pace forecast in a Reuters poll of economists and meaning the economy comfortably avoided falling back into recession.

The 0.4% growth in Brazil’s gross domestic product (GDP) was double the 0.2% median estimate in a Reuters poll, while the 1.0% rate of growth from a year earlier was also greater than the 0.7% expansion forecast by economists. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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