Itaú BBA - Evening Edition – Special committee starts to vote on the pension reform in Brazil

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Evening Edition – Special committee starts to vote on the pension reform in Brazil

July 4, 2019

The committee is now voting on the amendments, which might be concluded today

Talk of the Day

Brazil

Lower House lawmakers approved today the rapporteur’s proposal for the pension reform at the Special Committee. 36 members voted in favor and 13 against its approval. The committee is now voting on the amendments, which might be concluded today. After that, the bill will follow to the Lower House floor.

According to Anfavea, auto production reached 233.1k in June, broadly in line with our forecast (234 k). According to our seasonally adjusted series, production decreased 0.7% in June. Domestic sales increased 2.7%, while exports remained virtually stable. Our preliminary forecast for June’s industrial production increased to -0.8% mom/sa from -1.0% previously.

Chile

Tomorrow’s Agenda: At 9:30 AM, the central bank will publish the GDP proxy (Imacec) for May, which we expect to increase 0.3% mom/sa and result in annual growth of 2.3% (NSA) in May. Additionally, May’s nominal wage growth will also be released tomorrow.

Colombia

Tomorrow’s Agenda: At 9:00 PM, inflation for the month of June will be released. We forecast a 0.32% monthly increase in prices, resulting in annual inflation of 3.48%.

Mexico

Tomorrow’s Agenda: At 8:00 AM, the Statistics Institute (INEGI) will announce April’s gross fixed investment, which we expect to decrease 4.0% yoy in April (from -2.4% in March).



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