Itaú BBA - Monthly GDP declines in March

Macro Brazil

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Monthly GDP declines in March

May 14, 2019

The result reinforces our call for a contraction of GDP in 1Q19.

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

• In March, Itaú Unibanco monthly GDP (PM-Itaú) posted declines of 0.4% mom/sa and 0.6% yoy 

• From the demand standpoint, household spending advanced 0.3% mom/sa in March, while capital investment remained virtually stable.

• For April, we expect, for the time being, PM-Itaú to rise 0.6% mom/sa.
 

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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