Forex - Brazil Preview: due May 14 - March Services Volume Index - Our Forecast: +0.7% m/m, +1.8% y/y


 10:08 (GMT) 10 May

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Brazil Preview: due May 14 - March Services Volume Index - Our Forecast: +0.7% m/m, +1.8% y/y (0101-LBML-C01)

For March, we are expecting services to show positive numbers in NSA and SA numbers. Our forecasts is +0.7%m/m, +1.8%y/y. The recovery in SA numbers is mostly a low comparison base rebound rather than an actual recovery. The labour market has stalled and with mixed consumer confidence, we are to be is yet to show a solid rebound in domestic demand for services. The result is in line with the slow recovery for the economy in the first half of the year.


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