Saturday, August 13, 2016 Brazil: economy drops 0.5% in second quarterActing Brazilian President Michel Temer speaks during the opening ceremony for the 2016 Summer Olympics in Rio de Janeiro. Nevertheless, in the second quarter, activity contracted 0.5 percent compared to the first three months of the year. It was its best performance since December 2014 and only the second expansion this year. Still, many economists see the economy improving in the second half of the year as confidence levels start to improve under the government of interim President Michel Temer. Shares in Petrobras rose despite lower second-quarter profits, as analysts praised strong recurring operational results and lower leverage.
Source: Bueno Aires Herald August 13, 2016 00:22 UTC