Brazilian economy contracts 0.8 percent in third quarter of 2016

According to information divulged by the Instituto Brasileiro de Geografia e Estatística (IBGE) on 30 November 2016, the Brazilian GDP contracted 0.8 percent in the third quarter of 2016, marking the seventh consecutive quarter of contraction (Valor, Globo G1). Consulting firms and financial institutions questioned by Valor forecasted a contraction of 0.9 percent on average. For the past twelve months, the economy has contracted by 4.4 percent. Agricultural and fishing (primary) sectors and industry fell the most at 1.4 and 1.3 percent, respectively. For the seventh consecutive quarter, family consumption declined 0.6 percent in the third quarter of 2016.