Itaú BBA - Monthly GDP expands in May

Macro Brazil

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Monthly GDP expands in May

July 15, 2019

Result is consistent with weak growth in 2Q19

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

 

 In May, Itaú Unibanco monthly GDP (PM-Itaú) advanced 0.3% mom/sa and 4.1% yoy.

 From a demand standpoint, household spending increased 0.4% during May, while capital investment remained virtually unchanged.

 For the time being, we expect PM-Itaú to decline 0.9% in June.


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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