Forex - Brazil Preview: due March 18 - January Proxy GDP - We expect -0.1% m/m, +1.2% y/y


 12:51 (GMT) 15 Mar

  [Economic Data]

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Brazil Preview: due March 18 - January Proxy GDP - We expect -0.1% m/m, +1.2% y/y (0101-JSZK-C01)

January economic activity continues the shallow recovery the market and the BCB are concerned about. After Industrial Production disappointed coming at -0.8%m/m, -2.6%y/y, we saw better numbers in broad retail sales, which was stronger than expected at +1.0%m/m, +3.5%y/y while services remain soft at -0.3%m/m, +2.1%y/y. Those estimates leads us to a -0.1%m/m, 1.2% reading, a weak start for the year.


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