Itaú BBA - GDP shrinks 0.2% in 1Q19

Macro Brazil

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GDP shrinks 0.2% in 1Q19

mayo 30, 2019

For 2Q19, our preliminary forecast is a modest GDP growth of 0.1% qoq/sa

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

 GDP declined 0.2% qoq/sa in 1Q19, in line with expectations. Year-over-year, GDP went up 0.5%.

 From a demand standpoint, household spending advanced while investment declined. From a supply standpoint, services expanded while industrial production and agriculture receded.

 For 2Q19, our preliminary forecast is a modest GDP growth of 0.1% qoq/sa. Although preliminary, this expectation implies downside to our 1.0% estimate for growth in 2019.
 

Luka Barbosa
Alexandre Gomes da Cunha

 

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



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