Brazil Economic Growth Slows In Q1

(RTTNews) - Brazil's economic growth eased in the first quarter, hurt by the weak performance of the industrial sector, figures from the statistical office IBGE showed Friday.

Gross domestic product grew 0.2 percent quarter-on-quarter, following a 0.4 percent expansion in the previous three months, which was revised down from 0.7 percent.

The latest growth was in line with economists' expectations. The farm sector grew 3.6 percent, while industry shrunk 0.8 percent. Services sector expanded 0.4 percent.

Year-on-year, GDP rose 1.9 percent in the first quarter, slightly less than the expected 2 percent growth. Annual growth for the fourth quarter of 2013 was revised up to 2.2 percent from 1.9 percent.

The four quarters accumulated GDP increased 2.5 percent in the first quarter, same as in the previous quarter. Economists had forecast 2.4 percent gain.