Some of the best news of this year Brazil estimate of the day

…the recovery, which could come as soon as the fourth quarter, will likely be plodding. Brazil’s gross domestic product is projected to expand by about 1% next year, following deep back-to-back contractions of 3.8% in 2015 and an estimated 3.3% this year, according to a recent survey of 100 economists by the nation’s central bank.

It is bad news that this is good news, but good news it is.  Here is the longer WSJ piece, noting it still contains a fair amount of bad news.