Brazil’s economy is being blasted back in time

Linette Lopez – Business Insider, 8/5/2015

Economic indicators are flashing danger in Brazil. Activity in the country’s service sector is at its lowest level since the depths of the financial crisis, according to data from Markit Economics.

Meanwhile, economic activity is falling at almost 5% a year, according to research firm Reorient.

Couple that with a scandal-ridden president with a 7% approval rating and a major commodities slump, and what you’ve got are the ingredients for economic disaster.

Read more…

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