"Economy" Brazil's economic growth slowed to 2.3% last year
Official data released on Tuesday showed that Brazil's economy grew by 2.3% year-on-year last year, indicating a slowdown in growth as ultra-tight interest rates suppressed economic activity to control inflation.
Brazil's Gross Domestic Product (GDP) grew by 0.1% quarter-on-quarter in the fourth quarter, in line with economists' predictions. Year-on-year, the growth in the fourth quarter was 1.8%, also meeting market expectations.
The annual growth rate has slowed compared to the 3.4% expansion expected in 2024, marking the weakest performance since a 3.3% contraction in 2020 due to the pandemic's impact
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