Based on current information, our preliminary forecast for the headline IPCA in March is a 0.13% increase (2.72% yoy). Talk of the Day Brazil The IPCA-15 result in March (0.10%) printed in line with ourLeer Mas…
Despite a good headline at the margin, we do not expect the current account deficit to remain so low throughout the year The current account posted a $283 million surplus in February, below our estimateLeer Mas…
Monthly slide was driven by industrial production and services • Itaú Unibanco’s monthly GDP (PM-Itaú) [1] declined 0.4% mom/sa in January. In the quarter ended in January, our indicator expanded 0.4% vs. the quarter ended in October. • ForLeer Mas…
Introduction Context and objective After two years of deep recession, Brazil’s economy is currently on a path to recovery as a result of higher commodity prices and rising consumption and investment (IMF, 2018). However, theLeer Mas…
Broad and core retail sales accelerated on a quarterly basis • Core retail sales climbed 0.9% mom/sa in January, beating the median of market expectations (0.5%) and our estimate (0.4%). • Broad retail sales (including vehicles andLeer Mas…
For 2019, IPCA inflation expectations declined for the second consecutive week to 4.20%, from 4.24%. Talk of the Day Brazil According to Focus survey, IPCA expectations declined again. For 2018, median inflation forecasts fell to 3.67%Leer Mas…
Brazil´s IPCA release on the spotlight, Inflation kept falling in Mexico, and Consumer price inflation was muted in Chile. Talk of the Day Our LatAm Macro Monthly report will hit your mailboxes today, featuring scenariosLeer Mas…
Change in seasonality is behind seemingly-weak result at the margin • Industrial production fell 2.4% mom/sa in January, disappointing the median of market expectations (-2.1%) and slightly above our call (-2.6%). • This seemingly-weak result must beLeer Mas…
Overall seasonally-adjusted delinquency went up 0.1 p.p. in January to 3.4%. The Brazilian Central Bank released today the credit figures for January. The daily average of new non-earmarked loans fell 6.2% mom/sa in real terms,Leer Mas…
Después de registrar una fuerte recesión en 2015 y 2016, en 2017 hay señales de que la caída del PIB brasileño se estancó y se estima un aumento anual del 0,9%. Sin embargo, los indicadoresLeer Mas…
