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BRIC wall: Brazil’s economy slips into a recession

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Published August 30, 2014 12:15am ET
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BRIC wall: Brazil’s economy slips into a recession
FILE - In this July 2, 2014 file photo, a man works on the rooftop of a home at the Providencia slum of Rio de Janeiro, Brazil. Brazil has slipped into recession, with government figures released Friday, Aug. 29, 2014 showing gross domestic product contracting for a second consecutive quarter. Brazil last experienced a recession between October 2008 and February 2009. (AP Photo/Leo Correa, File) | Leo Correa

RIO DE JANEIRO (AP) — Brazil’s economy, once an emerging-market darling, fell into recession, according to government data released Friday, as millions of new middle class citizens tightened their belts and further dampened a credit-driven spending spree.

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Brazil South America