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Brazil's GDP grows slightly in third quarter, ending the country's recession

SAO PAULO – Brazil’s economy has pulled out of recession, but by the narrowest of margins, the government statistics bureau reported Friday.

The agency said gross domestic product grew by 0.1 per cent in the third quarter, ending the technical recession of two consecutive quarters of contraction in the first half of the year.

In the first quarter of 2014, the economy contracted 0.2 per cent while in the second quarter it dropped 0.6 per cent.

The bureau said that industrial output in the third quarter expanded by 1.7 per cent, while the service sector grew 0.5 per cent. Agricultural output contracted 1.9 per cent and family consumption fell 1.3 per cent.