Itaú BBA - Industrial production declines in May

Macro Brazil

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Industrial production declines in May

July 2, 2019

Only 8 out of 26 activities show monthly gains

For the version with all charts and tables, please open the attached pdf file.

 

 In May, industrial production receded 0.2% mom/sa, printing virtually in line with market expectations (-0.3%) but better than we anticipated (-0.6%). 

 Manufacturing declined 0.5% mom/sa, while mining/extraction climbed 9.2% and offset the April slide. 

 Our preliminary estimate for industrial production in June is a drop of 1.0% mom/sa, with manufacturing falling 1.1% and mining/extraction rising 0.7%.


Luka Barbosa
Alexandre Gomes da Cunha
Matheus Felipe Fuck



For the version with all charts and tables, please open the attached pdf file



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