Brazil’s Economy Falls Into Recession

Brazil’s economy slipped into recession in the first quarter as power rationing and high interest rates curbed energy output, construction, manufacturing and retail sales.

Marking the first recession in Brazil since early 1999, the economy shrank 0.73% in the first three months from a year earlier and followed a 0.7% decline in the fourth quarter. The economy grew 4.3% in the first quarter of 2001.