Brazil's economy kicks off rough year shrinking 0.2%

The figure confirmed a five-year-old slowdown in the South American giant's GDP but was smaller than the 0.5 percent drop that most analysts had forecastBrazil’s economy, the world’s seventh largest, contracted by 0.2 percent in the first quarter of 2015, the government said Friday, kicking off a rough year in which it is expected to continue shrinking. Like much of Latin America, Brazil has been hit hard by the sharp decline in commodities prices after a boom in the 2000s.

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