Latin America Data Response Mexico Industrial Production (Oct.) The small 0.6% m/m rise in Mexican industrial production in October was helped by a rebound in auto production, suggesting the sector may be starting to turn a corner. However, the risk of further... 10th December 2021 · 2 mins read
Latin America Data Response Brazil IPCA (Nov.) The slightly softer-than-expected Brazilian inflation figure, of 10.7% y/y, isn’t going to stop Copom from hiking the Selic rate by another 150bp (to 10.75%) when it meets in early February. But it... 10th December 2021 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Nov.) The rise in Mexico’s headline inflation to a 20-year high of 7.4% y/y in November will be a concern for Banxico. But it was partly driven by unfavourable base effects which will soon unwind. And given... 9th December 2021 · 2 mins read
Latin America Data Response Chile Consumer Prices (Nov.) The further rise in Chile’s inflation to 6.7% y/y – the highest rate since late 2008 – will keep pressure on the central bank to deliver further aggressive monetary tightening. We expect another 125bp... 7th December 2021 · 2 mins read
Latin America Data Response Brazil Industrial Production (Oct.) The surprise 0.6% m/m fall in Brazilian industrial production in October and weakness in the surveys for last month provide early evidence that the contraction in the economy last quarter may be... 3rd December 2021 · 2 mins read
Latin America Data Response Brazil GDP (Q3 2021) The 0.1% q/q fall in Brazilian GDP in Q3 confirmed that problems in the agricultural and industrial sectors tipped the economy into a technical recession. And with financial conditions tightening, the... 2nd December 2021 · 2 mins read
Latin America Data Response Brazil IPCA-15 (Nov. 2021) The Brazilian inflation reading of 10.7% y/y in mid-November (the same as the October full month figure) provides the first sign that inflation is now stabilising. But with the headline rate still far... 25th November 2021 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (Nov.) The surge in Mexico’s inflation to 7.05% y/y in the first two weeks of November – the highest since 2001 – was partly a result of unfavourable base effects, but underlying price pressures were also... 24th November 2021 · 2 mins read
Latin America Data Response Chile GDP (Q3 2021) The 4.9% q/q surge in Chile’s GDP in Q3 took output not only above its pre-pandemic level but also its pre-crisis trend. The strength of the figures means that we now expect above-consensus growth of... 18th November 2021 · 3 mins read
Latin America Data Response Colombia GDP (Q3 2021) The stronger-than-expected 5.7% q/q jump in Colombia’s GDP in Q3 more than offset the setback in Q2, and took output 2.6% above its pre-pandemic level. While the recovery will slow from here, we now... 16th November 2021 · 2 mins read
Latin America Data Response Mexico Industrial Production (Sep.) The surprise 1.4% m/m drop in Mexican industrial production in September in large part reflects auto sector woes and suggests that the flash Q3 GDP estimate of -0.2% q/q may be revised down. This... 11th November 2021 · 2 mins read
Latin America Data Response Brazil IPCA (Oct.) The larger-than-expected jump in Brazilian inflation, to 10.7% y/y, last month, coming alongside a rise in inflation expectations and continued fiscal risks, increases the likelihood that Copom ups... 10th November 2021 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Oct.) The rise in inflation in Mexico to 6.2% y/y in October paves the way for another rate hike at the central bank’s meeting on Thursday. However, the surprise fall in GDP in Q3 will probably keep the... 9th November 2021 · 2 mins read
Latin America Data Response Brazil Industrial Production (Sep.) The 0.4% m/m fall in Brazilian industrial production in September suggests that the sector knocked 0.1-0.2%-pts off q/q GDP growth over Q3 as a whole. The latest surveys suggest that October’s figures... 4th November 2021 · 2 mins read
Latin America Data Response Mexico GDP (Q3 Prov.) The surprise 0.2% q/q contraction in Mexico’s economy in Q3 was largely driven by lockdown-related disruption to the services sector, which should unwind in Q4 as restrictions have been eased. Even so... 29th October 2021 · 2 mins read
Latin America Data Response Brazil IPCA-15 (Oct. 2021) The larger-than-expected increase in Brazilian inflation in the middle of October, to 10.3% y/y, alongside the latest rise in inflation expectations mean that Copom is likely to step up the pace of... 26th October 2021 · 2 mins read
