Brazil's GDP grew in the II quarter of this year after a semi-recession

Output Brazil out of the recession in the II quarter of this year was more successful than analysts had expected. Largest economy in Latin America came out of semi-recession, provoked by the global financial crisis, reported Reuters.

Brazil's GDP grew in II quarter on 1,9% compared with the previous quarter, confirming expectations that the recovery is well underway. Estimates of the growth of the economy of the country ranged from 0,7% to 2,2%, with their average value of 1,6%.

Gross domestic product in I quarter decreased by 0.8%. This was the second consecutive quarterly drop in the Brazilian economy, in other words, the country fell into a technical recession.

Analysts say Brazil's economy has avoided recession thanks to strong sound banking system, government measures to introduce tax incentives and a sharp decline in interest rates

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