RIO DE JANEIRO, Aug. 29 (Xinhua) -- Brazil's economy, the largest in Latin America, rebounded during the second quarter of 2019, the Brazilian Institute of Geography and Statistics (IBGE) said on Thursday.
According to a report by the statistics agency, the economy grew 0.4 percent from the previous quarter and by 1 percent from a year ago.
Brazil's economy in the first three months contracted by 0.1 percent, according to revised figures by the IBGE.
The results prevented Brazil from falling into recession, which occurs when the gross domestic product (GDP) growth is negative for two consecutive quarters, in conjunction with monthly indicators like employment.
The Brazilian economy still suffers the effects of the economic crisis from 2015 to 2016, when the GDP had fallen for two consecutive years.
The financial markets forecast a 0.8 percent GDP growth for the Brazilian economy this year, while the government estimates a 0.81 percent growth.