Picture of an oil platform belonging to the Brazilian state oil company Petrobras, at the port of Rio de Janeiro, Brazil, taken on December 27, 2011. Brazil has overtaken Britain as the world's sixth largest economy, a London-based research group said on December 26. In its latest World Economic League Table, the Centre for Economics and Business Research (CEBR) said Asian countries were moving up while European countries were slipping down. The Brazilian economy grew 7.5 percent in 2010, but the government has cut its growth projections to 3.5 percent for this year after the economy slowed in the third quarter. The CEBR says the US economy is the biggest, followed by China, Japan, Germany and France.