BRAZIL'S ECONOMY LEAVES RECESSION
Brazil has come out of recession after its economy grew in the April-to-June quarter. The largest economy in Latin America expanded by 1.9% in the second quarter from the previous three months. Data also showed Sweden emerged from recession on Friday, a sign that economies are starting to recover from the global economic downturn. Other countries that have come out recession include the eurozone's largest economies, Germany and France. Japan, the world's second-largest economy, also grew by 0.6% in the second quarter, less than the 0.9% growth the government initially estimated. Most countries have enacted large stimulus packages to pull themselves out of the slump. Brazil has poured money into large-scale public infrastructure projects, cut taxes on new cars and passed tax breaks on companies and individuals. The return to growth means that Brazil's recession was comparatively short, amounting to just two quarters of negative growth. The economy shrank by 1% in the first three months of 2009, a revision from the previously announced 0.8%, said statistics agency IBGE. In the last quarter of 2008, Brazil saw a contraction of 3.4%, itself a revision from an earlier figure of 3.8%. On Thursday, the Brazilian government said inflation had slowed in August, giving a total of 4.4% for the past 12 months. The rate is below the central bank's 2009 inflation target of 4.5%.
Fonte: http://news.bbc.co.uk (Acessado em 14/09/09)
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