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< BackBrazil’s component weakened once again
For the version with all charts and tables, please open the attached pdf file
Our Itaú Activity Surprise Index declined slightly to -0.28 in May (from -0.26 in April). Brazil’s component weakened once again to -0.58, due to lower-than-expected prints for industrial production and year-over-year GDP growth, dragging the entire LatAm index down. Chile’s component improved in May – though remained negative - with lower-than-expected retail sales. Colombia, Mexico and Peru components all posted positive surprise.
For the version with all charts and tables, please open the attached pdf file
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