About: http://data.cimple.eu/news-article/25c56322a9e3341d3fc3085a31f91b4283496a2c77b19db9708ec216

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rdf:type	schema:NewsArticle
schema:articleBody	Brazil's economy, the biggest in Latin America, contracted by a record 9.7 percent in the second quarter of 2020, plunging into recession as coronavirus lockdowns hit home, the official statistics agency said Tuesday. Brazil has been hit hard by the pandemic, with the second-highest number of infections and deaths worldwide after the United States, and stay-at-home measures to contain the virus have taken a heavy toll. "GDP is now at the same level as late 2009, at the height of the global financial crisis," the Brazilian Institute of Geography and Statistics (IBGE) said in a statement. The contraction was worse than the 9.2 percent average forecast by 49 economists polled by business daily Valor. However, it was better than the 11.1 percent drop economists were predicting in May. Analysts say that improvement was largely thanks to the decision by President Jair Bolsonaro's administration to launch a massive stimulus program that has been paying 600 reals ($110) a month to Brazilians hit hardest by lockdown measures. Brazil's economy shrank a revised 2.5 percent in the first quarter, as the impact of the pandemic began to hit, IBGE said. Since then, Covid-19 has exploded in Brazil: the country has now registered more than 3.9 million infections and 121,000 deaths. jhb/st
schema:headline	Virus plunges Brazil into recession with record 9.7% drop
schema:mentions	Latin America Great Recession Brazilian Institute of Geography and Statistics Lar Gand Recession Gross domestic product Jair Bolsonaro Lockdown Pandemic Virus Brazil United States Coronavirus President of the United States Coronavirus disease 2019
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-01 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	61 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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