LatAm Daily | In Brazil despite the surprise in industry we expect 2Q15 GDP to contract

Summary

Following three months of declines, industrial output rose 0.6% MoM in May well above the market consensus. Despite this positive figure, we expect 2Q15 GDP to fall significantly. In Colombia we expect CPI to increase 0.08% MoM due to a slight fall in food prices and electric energy tariffs. As a result, inflation should ease to 4.4% YoY in May.

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