The waning industrial output in the second quarter

BRAZIL ECONOMICS - Report 10 Jul 2018 by Affonso Pastore, Cristina Pinotti, Marcelo Gazzano and Caio Carbone

The truckers’ strike undermined industrial output in May, and when all the numbers are known, gross industrial production in the second quarter should also show a decline. Although not enough information is yet available about the service sector, which has large weight in GDP, preventing assessing the possibility of contraction of GDP in the quarter, the strike certainly accentuated the deceleration trend, increasing the likelihood that GDP growth for the year will be near 1%.

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