Itaú BBA - Truckers’ stoppage affected industrial production in May

Macro Brazil

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Truckers’ stoppage affected industrial production in May

julio 4, 2018

Coincident indicators signal normalization in June

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

• Industrial production tanked 10.9% mom/sa in May but was better than the median of market expectations (-13.2%) and our estimate (-15.1%). Compared to May 2017, the indicator was down by 6.7%.

• The sharp decline was caused by the trucker’ stoppages, which affected supply and production chains in the final two weeks of the month.

• Our preliminary estimate for industrial production in June is an advance of 10.9% mom/sa, as the shock gave way to normalization.
 

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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