A bleak outlook for Brazil

The Brazilian economy is slipping from recession into depression, with declines in its industries across the board.

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Brazil is slipping from recession into depression, analysts have warned. In the third quarter of 2015, GDP fell by a record 4.5%. It's the third quarter in a row of falling growth, marking Brazil's deepest contraction since records began in the 1990s. Weak harvests for coffee, sugar, cotton and oranges all hurt, but "the declines were across the board", saysJoe Leahy in the FT. Forestry, cattle, industry and services are all contracting.

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