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Brasil...the 'B' of the much vaulted BRIC emerging growth economies...showed less than ZERO growth in Q3 from Q2...actually shrinking by 0.04.
Y/y...Brasilia's economy grew only 2.1%.
In 2010..it posted an impressive 7.5% GDP increase.
In short...its economy is 'morto na água'/dead in the water.
Some economists are blaming...the eurozone...and a slowdown in China.
"The reversal ... is very worrisome, and the worst is that there's not much that can be done about it -- we depend on a solution to the problems in Europe," said an economist.
Others blame monetary and credit tightening...with 5 benchmark interest rate hikes.
