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NEW ORLEANS (AP) — Former President George W. Bush returned Friday to New Orleans — the scene of one of his presidency's lowest points — to tout the region's recovery from the nation's costliest natural disaster on the 10th anniversary of Hurricane Katrina.
Brazil has slipped into recession, the government said Friday, deepening the gloom in the world's seventh largest economy already battered by falling commodity prices, political crisis and a corruption scandal. GDP had already been down 0.7 percent in the first quarter, the government statistics agency IBGE said, revising that figure down further from the earlier estimate of minus 0.2 percent. Brazil is now in its biggest contraction for six years and with the 2015 slump forecast to extend in milder form through 2016, economists believe the country is headed for the longest recession since 1931.