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Brazil PMI surveys spell end to nation’s deepest-ever recession

Brazil’s economy probably emerged in April from its deepest recession ever as lower interest rates and hopes of sweeping economic reforms bolstered services and manufacturing activity, a private survey showed on Thursday.

The Purchasing Managers Index (PMI) for the Brazilian services sector, compiled by research firm Markit, rose to 50.3 in April from 47.7 in March. The index had remained below the 50 mark that separates contraction from expansion since February 2015.

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