Recessions

Total credit in Greece's banking system contracted 1.9 percent year-on-year in September after a 1.6 percent decline in the previous month, Bank of Greece data showed Tuesday.

Credit extended to the government fell 3.0 percent after decreasing by 1.3 percent in August, the central bank said.

Brazil's economy contracted sharply in 2015 as businesses slashed investment plans and laid off more than 1.5 million workers, official data showed on March 3, setting the stage for what could be the country's longest and deepest recession in its recorded history.

The Greek economy will return from negative to positive growth rates in the middle of 2016 for an annual recession rate of 1.5 % this year, Economic and Industrial Research (IOBE)  announced.

Brazil has slipped into recession, the government said on Aug. 28, deepening the gloom in the world's seventh largest economy already battered by falling commodity prices, political crisis and a corruption scandal.

In the second quarter of this year, gross domestic product fell 1.9 percent, according to official figures.

The sharp decline in Russia's economy may have almost run its course, official data showed on July 28, slowed by a huge devaluation of the ruble and heavy government spending on anti-crisis measures. 

Recovery prospects are cloudy, however, with many analysts warning of a sluggish rebound at best. 

The unemployment rate will likely rise soon due to the slowdown in several sectors, which had up to now been the biggest job generators Unemployment has started climbing again after the 2012-2014 period, which can be called a "low-growth period" with an average growth of 3 percent. There are signs that unemployment will climb further in the coming months.    

Greek industrial output rose for the third month in a row in April, increasing by 0.4 percent compared to the same month a year earlier after an upwardly revised 5.3 percent rise in March, statistics service ELSTAT said on Tuesday.

Greece?s economy shrank 0.2 percent in the first quarter, the country?s statistics service ELSTAT said n Friday, confirming a preliminary estimate earlier in the month. The data showed that the economy slipped back into recession as political turmoil put the brakes on a fragile recovery.

Turkey's unemployment rate hit 11.2 percent in the February period, according to data released by the Turkish Statistical Institute (TÜ?K) on May 15.

The number of unemployed people aged 15 years old and over increased by 401,000 to 3.2 million in the February period, which included December 2014 and January and February 2015, from the same period a year previous. 

Greek industrial output rose for the second month in a row in March, increasing by 5.0 percent compared to the same month a year earlier after a 1.9 percent rise in February, statistics service ELSTAT said on Monday.