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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