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Brazil's fortunes have fallen since amid corruption allegations and a steep recession.
Then, there was a steep recession; now there is economic growth.
The euro crisis is pulling back the country's recovery from a steep recession in 2009.
Since the housing bust and steep recession, Americans have been more cautious.
In 1999 Colombia suffered a steep recession: GDP shrank by 4.5%.
But this will be the first steep recession since the revolution in household formation.
That could be strangled by any crisis that causes a steep recession.
The figures also provide further evidence that the economy is in a steep recession.
It was manufacturing that led the economy back from the last steep recession, in 1981-82.
The 2007-8 crinis in the U.S. led to a steep recession, followed by aggressive policy responses.
Even Germany, Europe's powerhouse, has yet to recover the economic output it lost during the steep recession of 2009.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com