The Brazilian economy has shown more promise in 2017 than it has in years. Earlier this week, the Central Bank of Brazil's economic activity index — a leading indicator released ahead of official gross domestic product figures — reported 1.12 percent growth in the first quarter. The news provided some relief for Temer, since it suggests that the economy posted quarterly growth for the first time in two years. The recession, which began in 2015, has been Brazil's deepest since the 1930s — a period of decline worse even than the era of hyperinflation in the 1980s and early 1990s. In both 2015 and 2016, the economy contracted more than 3 percent, while unemployment soared from around 5 percent to 13 percent. Inflation surpassed 10 percent in 2015, compelling the Central Bank to begin a monetary tightening cycle that saw interest rates rise to over 14 percent.