Charts Of The Day: Household Spending Will Remain Subdued

A deteriorating labour market will keep household spending in Brazil under severe pressure in the months ahead. This is in line with our view that weakness in the consumer sector will be a significant driver of a 1.7% contraction in real GDP this year ( see 'Weakening Labour Market Will Drive Deeper Economic Contraction', May 15). No Major Pickup On The Cards Brazil - Retail Sales Growth, % y-o-y 3mma Source: IBGE, Bloomberg, BMI Most recent high frequency data confirm this view, with...

Please subscribe below to view this content.