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Weekly Report - 16 April 2015 (WR-15-15)

BRAZIL: Things can only get better?

Unexpectedly, the Brazilian economy expanded in February, defying the predictions of most economists. The seasonally adjusted economic index, a proxy for gross domestic product, rose 0.36% month-on-month in February, after falling 0.11% in January. Still, most economists refuse to let the bump in activity dissipate their gloom. Economists surveyed by the central bank see this year’s GDP falling 1.01%, while inflation will end the year at 8.13%, well above the bank’s inflation target of 4.5%, plus or minus two percentage points.

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