Itaú BBA - Evening Edition – Industrial confidence decreases in Brazil

Latam Talking Points

< Back

Evening Edition – Industrial confidence decreases in Brazil

May 21, 2019

Activity data released so far for 2Q19 indicate no substantial acceleration in economic activity.

Talk of the Day

Brazil

According to FGV’s monthly industry survey preview, business confidence in the industrial sector decreased 1.6 pp. to 96.3 in May. The breakdown shows a drop both in the current conditions (-0.4 pp.) and in the expectations component (-2.9 pp.). Capacity utilization in the sector (NUCI) increased slightly (0.3 pp.), to 74.7%. The current level of business confidence is consistent with industrial production growth slightly below 0% on a quarterly basis, and activity data released so far for 2Q19 indicate no substantial acceleration in economic activity, after a disappointing 1Q19.

Argentina

Tomorrow’s Agenda: The INDEC will publish the EMAE (official monthly GDP proxy) for March. We forecast a 0.7% drop against the previous month, implying a 5.8% yoy decrease.

Colombia

Tomorrow’s Agenda: Think-tank Fedesarrollo will publish industrial and retail confidence for the month of April.

Mexico

Tomorrow’s Agenda: At 10:00 AM, the statistics institute (INEGI) will announce March’s retail sales, for which we forecast a 2.3% yoy growth, from 1.8% in February.



Print
< Back