Brazil’s economy grows more than expected in first quarter

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RIO DE JANEIRO (AP) — Brazil’s economy grew more than expected in the first quarter of 2021, continuing its rebound from pandemic recession as many declined to hunker down amid COVID-19′s brutal second wave. Latin America’s largest economy grew 1.2% from the fourth quarter, according to data the national statistics agency released Tuesday. That was above the 0.7% median forecast from economists surveyed by Broadcast, the real-time financial service of local media Agencia Estado. But family consumption stalled in the first quarter, reflecting withdrawal of pandemic welfare at year-end 2020, a struggling job market, and double-digit food inflation.

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