Itaú BBA - Industrial production rises 0.2% in October

Macro Brazil

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Industrial production rises 0.2% in October

diciembre 4, 2018

Weakness still reflects tighter financial conditions in 3Q18


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

Industrial production rose 0.2% mom/sa in October, matching our forecast but disappointing the median of market expectations (1.1%). Year-over-year, the indicator expanded 1.1%.

Such weak advance in industrial production still reflects tighter financial conditions in 3Q18.

According to our preliminary estimate, industrial production increased 0.6% at the margin in November. Going forward, we expect improving financial conditions since October, employment growth and a rebound in new loans to speed up growth in industrial output.

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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