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Brazil’s GDP falls by 0.3% in Q1 of 2016

Brazil’s economy shrank 0.3 percent in the first quarter of 2016. It was less than the 1.3 percent decline in the previous quarter but far from lifting the deep gloom over the economic powerhouse of Latin America. Economists expect Brazil’s GDP to fall about 4 percent in 2016 for a second straight year. Analysts warn the recession could be the worst for Brazil since the 1930s.

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