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Brazil's Central Bank: Economy Shrank 4.08 Percent in 2015

Brazil's central bank said Thursday the economy contracted 4.08 percent in 2015, the worst performance since the indicator was created in 2003. The data also showed that the economy shrank 0.15 percent in 2014 in non-seasonally adjusted figures. The results were broadly in line with market expectations. The average forecast of 15 financial institutions surveyed by the financial newspaper Valor was a 4.1 percent drop. The bank used a methodology that differs from the one used to...

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