Brasilia — Brazil's economy shrank in the first quarter for the first time since 2016, data showed on Thursday, pushing Latin America's largest economy closer to a double-dip recession.

The contraction piled pressure on President Jair Bolsonaro, who was swept into office in January after making market-friendly pledges to boost growth and lift the gloom hanging over the economy since a brutal 2015/2016 recession.

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