Itaú BBA - Primary deficit of BRL 20.9 billion in February

Macro Brazil

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Primary deficit of BRL 20.9 billion in February

marzo 31, 2020

Primary result will temporarily deteriorate due to coronavirus crisis.


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

 

• The unemployment rate reached 11.6% in February, matching market expectations and our call. Seasonally adjusted unemployment remained stable at 11.5%.

• The seasonally adjusted underemployment rate also remained stable at 23.5%.

• The real wage bill expanded 1.9% vs. February 2019.

 

Luka Machado Barbosa
Matheus Felipe Fuck


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



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