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Brazil’s economy is really going through a rough patch

AP Photo/Andre Penner
Things are falling apart.
Published This article is more than 2 years old.

Brazil released its latest measure of industrial production for April, and it’s bad—down 7.6% from the same month last year.

It’s just the latest soft economic data point to come out of the country, which has been dealing with rising unemployment, inflation, and a weakening currency as its economy shrinks.

“We’re running out of words to describe just how bad conditions are in Brazil’s industrial sector,” Capital Economics said in a note to clients. “The fall in production in April means that industry has now contracted in five of the past six months and that output has returned to the same level it was at the start of 2007.”

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