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Brazil Analysts Forecast Back-to-Back Recession for First Time

Brazil analysts forecast that Brazil’s economy faces two straight years of recession for the first time since the Great Depression.

Brazil’s economy will shrink by 2.01 percent in 2015 and by 0.15 percent in 2016, according to the Aug. 14 central bank survey of about 100 analysts. That marks their first forecast for recession next year and compares with the previous week’s predictions of a decline of 1.97 percent in 2015 and flat growth in 2016. The last time the economy shrank for two straight years was in 1930-31.