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Brazilian Economy's Steep Slide Raises Specter of Depression

Brazil's economy contracted sharply in 2015 as businesses slashed investment plans and laid off more than 1.5 million workers, official data showed on Thursday, setting the stage for what could be the country's deepest recession on record. Gross domestic product (GDP) shrank 3.8 percent last year, capped by another steep contraction in the fourth quarter, according to Brazilian statistics agency IBGE. It was the worst performance of any G20 nation in 2015. It was also...

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