Itaú BBA - Industrial production climbs 7.0% mom/sa in May

Macro Brazil

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Industrial production climbs 7.0% mom/sa in May

julio 2, 2020

Widespread growth across sectors.


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

 

 After two consecutive months of declines, industrial production climbed 7.0% mom/sa in May, in line with the median of market estimates but missing our call (+9.6%). Compared to May 2019, the indicator plummeted 21.9%.

 In May, 20 out of 26 industrial sectors advanced, after two consecutive months with 22 sectors posting negative results.

 Preliminary data suggest that industrial production continued to grow in June, albeit still at low levels.


Luka Machado Barbosa
Matheus Felipe Fuck


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



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