Brazil's Gross Domestic Product (GDP) closed out the second quarter of 2016 0.6% down from the previous quarter in the seasonally adjusted series, totaling $461.18 billion.

Compared to the second quarter of 2015, the GDP shrank 3.8%. With the latest result, the cumulative GDP in the first six months of the year was down 4.6% as against the first six months of 2015.

The cumulative result for the four-quarter period ending in the second quarter of 2016 was down 4.9% from the comparable period a year before.

The Quarterly National Accounts survey was published today (Aug. 31) by the Brazilian Institute of Geography and Statistics (IBGE).