And Brazil don’t seem to be able to catch a break lately. This morning, data firm Markit released its Brazil Purchasing Managers’ Index revealing that manufacturing activity dropped in April, suggesting no short term recovery for the country’s deep economic recession. According to the firm’s economist Pollyanna De Lima: “The deteriorating picture in Brazil’s manufacturing sector continued in April, and there is little sign so far of a rebound as the economy remains in a fragile state and the political paralysis looks set to persist.” In 2015, Brazil’s economy contracted 3.8%.

Source: Dow Jones Newswires, May 2, 2016