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Brazil growth slows in first quarter

The assembly line for the KC-390 military transport aircraft at the Embraer factory in Gaviao Peixoto, Sao Paulo State, Brazil on May 16, 2014Brazil’s economy slowed in the first quarter, official statistics showed Friday, at a delicate time for the country with President Dilma Rousseff seeking re-election in October and the hosting of the football World Cup. Gross domestic product (GDP) increased just 0.2 percent in the first quarter — in line with market expectations — the Brazilian Institute of Geography and Statistics (IBGE) said, compared with a revised-down 0.4 percent in the previous three months. Although some sectors in Brazil will gain a boost from the June 12-July 13 World Cup, the tournament will not have a major economic effect, Moody’s rating agency forecast in March.

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