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BRIC economies continue to underperform

Growth across the emerging world appears to have remained unchanged at around 4.5% y/y at the start of this year. The recovery in Emerging Europe has faltered, but this was largely due to the weakness in the Russian economy, while the rest of the region has continued to rebound. More generally, the BRIC economies have underperformed the rest of the emerging world since the start of the year.  

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