In the third quarter, GDP decreased 0.5% over the previous quarter in seasonally-adjusted terms, marking the first contraction and lowest print recorded since Q1 2009. The decrease contrasted the 1.8% growth registered in the second quarter and was greater than the 0.3% fall the market had expected. The decline was driven by deterioration in the external sector and in fixed investment. The economy added 2.2% in Q3 compared to the same quarter last year, which was down from the 3.3% increase tallied in Q2.
Read more about Brazilian GDP.