Itaú BBA - Normalization in monthly GDP in June

Macro Brazil

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Normalization in monthly GDP in June

August 14, 2018

1.4% growth in June

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

Itaú Unibanco’s monthly GDP (PM-Itaú) advanced 1.4% mom/sa in June and rebounded to its April level, prior to the truckers’ stoppage. Compared to June 2017, the indicator went up 1.6%.

In 2Q18, PM-Itaú expanded 0.5% qoq/sa, slightly above our estimate for GDP growth during the same period (0.3%).

For July, based on already released coincident indicators, we forecast, for the time being, a slight drop of 0.2% mom/sa in PM-Itaú.

 

Artur Manoel Passos
Alexandre Gomes da Cunha

 

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

 



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