Brazil: Economic Growth Slows

By BLOOMBERG NEWS
Published: June 11, 2008
Brazil’s economy grew 5.8 percent in the first quarter, powered by higher consumer spending that is stoking inflation and forcing the central bank to raise interest rates. The growth rate slowed from 6.2 percent in the last three months of 2007. Brazil’s statistics agency also reported that exports had fallen 2.14 percent from a year ago, their first quarterly decline since June 2006.