Brazil's Gross Domestic Product (GDP) grew 1% in the first quarter of this year compared to the fourth quarter of last year (seasonally adjusted). This has been the first increase after two consecutive years of decline.

The GDP data was released by the Brazilian Institute of Geography and Statistics (IBGE) in Rio de Janeiro today (June 1). Compared to the same period of 2016, the GDP was down by 0.4%.

In absolute numbers, the GDP totaled $493.2 billion in the first quarter of 2017.