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9.7% contraction recorded in Brazil's economy in the second quarter

Shortpedia

Content Team
Image Credit: Shortpedia

Brazil continues to reel under the coronavirus crisis and the cases of the pandemic continue to grow. According to a report by the national statistics institute, the country's economy contracted a record 9.7% in the second quarter from the previous three-month due to the economic crisis posed in the view of the novel coronavirus. It was the second consecutive quarter when the country's GDP declined.