{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Brazil: boom to bust story continues as GDP shrinks again' data-url='/boclips/videos/6878fbba8802842c0ca29e4a' data-video-url='/boclips/videos/6878fbba8802842c0ca29e4a' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBrazil: boom to bust story continues as GDP shrinks again\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eBrazil’s economic boom to bust story continues. Gross domestic product shrank again between January and March. It was the fifth straight quarter of decline and production was lower in agriculture, industry and services, the three main...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eBrazil’s economic boom to bust story continues.\u003cbr/\u003e\u003cbr/\u003e Gross domestic product shrank again between January and March. It was the fifth straight quarter of decline and production was lower in agriculture, industry and services, the three main economic sectors.\u003cbr/\u003e\u003cbr/\u003e The fall of 0.3 percent from the previous quarter was smaller than expected but analysts pointed ou that was only due to heavier government spending in the period.\u003cbr/\u003e\u003cbr/\u003e Brazil’s GDP fell 5.4 percent from a year earlier, according to the statistics agency IBGE.\u003cbr/\u003e\u003cbr/\u003e  #Brazil #GDP Growth Rate year-on-year at -5.\u003ca href='https://t.co/tKa252OZJg' target='_blank' rel='nofollow'\u003e4%\u003c/a\u003e pic.twitter.com/maYXLqVNVs— Trading Economics (@tEconomics) June 1, 2016\u003cbr/\u003e\u003cbr/\u003e Business investments and household demand slid as businesses shed more than 100,000 jobs per month.\u003cbr/\u003e\u003cbr/\u003e Exports were a rare bright spot, with an increase of 6.5 percent from the fourth quarter after a sharp currency depreciation.\u003cbr/\u003e\u003cbr/\u003e  Brazil’s Q1 GDP Growth Rate Continues to Show Retraction – See more \u003ca href='https://t.co/XzKxDwzWBR' target='_blank' rel='nofollow'\u003eat\u003c/a\u003e pic.twitter.com/8g0owHKGgk— The Rio Times (@TheRioTimes) June 1, 2016\u003cbr/\u003e\u003cbr/\u003e The latest business surveys also showed the downturn in Brazil’s manufacturing sector intensified in May, leading to a new record in job cuts as production fell for a 16th straight month.\u003cbr/\u003e\u003cbr/\u003e “Record contraction in payroll numbers is likely to further aggravate domestic demand as we move into the second half of the year,” said economist Pollyana de Lima with Markit, the organisation that carried out the surveys.\u003cbr/\u003e\u003cbr/\u003e  Manufacturing downturn in #Brazil intensifies in May as #PMI falls to its lowest level in 7+ \u003ca href='https://t.co/AodhKmUGyE' target='_blank' rel='nofollow'\u003eyears\u003c/a\u003e— Markit Economics (@MarkitEconomics) June 1, 2016\u003cbr/\u003e\u003cbr/\u003e The state of Latin America’s largest economy is at the centre of a political crisis which saw President Dilma Rousseff suspended last month to face charges of breaking budget rules. \u003cbr/\u003e\u003cbr/\u003e The Finance Ministry said Brazil’s economy is going through its worst recession ever but will probably start to recover in coming quarters thanks to measures announced by interim President Michel Temer, who was Rousseff’s deputy. \u003cbr/\u003e\u003cbr/\u003e  Sacrifices needed\u003cbr/\u003e\u003cbr/\u003e As the latest GDP numbers were released Temer vowed not to cut spending on health and education, reversing previous statements from government ministers.\u003cbr/\u003e\u003cbr/\u003e But he warned that sacrifices are needed to balance Brazil’s public accounts and restore economic growth.\u003cbr/\u003e\u003cbr/\u003e “There is no longer any room in Brazil for a bloated and inefficient state,” he said at a ceremony where the new heads of state banks and state-run oil company Petrobras took office.\u003cbr/\u003e\u003cbr/\u003e Temer criticised the state of the country he inherited from Rousseff, with 11 million unemployed, stubbornly high inflation and a massive budget deficit.\u003cbr/\u003e\u003cbr/\u003e Rousseff has accused him and others of mounting “a coup” saying the impeachment proceedings against her were designed to stop corruption investigations into Petrobras.\u003cbr/\u003e\u003cbr/\u003e Two members of Temer’s cabinet have already had to resign after they were allegedly discovered trying to derail the inquirys. 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