Itaú BBA - Monthly GDP declines in June, but expands 0.5% in 2Q19

Macro Brazil

< Back

Monthly GDP declines in June, but expands 0.5% in 2Q19

August 9, 2019

Result reinforces perception of weak economic activity


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

• In June, Itaú Unibanco monthly GDP (PM-Itaú) fell 0.7% mom/sa, while advancing 0.5% on a quarterly basis, in line with our forecast for GDP growth in 2Q19.

• From a demand standpoint, household spending dropped 0.3% in June, while capital investment receded 0.2%.

• PM-Itaú's statistical carryover into 3Q19 is -0.3%, meaning downside to economic activity in the current quarter.
 

Luka Barbosa
Alexandre Gomes da Cunha

Matheus Felipe Fuck

 

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



< Back