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Brazil Q4 GDP and Mexico Unemployment Rate Data Due

LATAM
  • Up first we have Brazil Q4 GDP which is expected to have risen by 2.2% in 4Q22 on a yearly comparison, according to analysts’ estimates surveyed by Bloomberg, after rising 3.6% in the prior reading. As the boost from reopening and pre-election fiscal stimulus wane, the economy is still facing the lagged and cumulative effects of sharp rate hikes, which brought the policy rate to 13.75% from 2% in March 2021. Data is due at 1200GMT/0900 local time:
    • 4Q GDP 4Qtrs Accumulated, est. 3.0%, prior 3.0%
    • 4Q GDP QoQ, est. -0.2%, prior 0.4%
    • 4Q GDP YoY, est. 2.2%, prior 3.6%
  • Additionally at the top of the hour, we have Mexico unemployment data for January, expected to rise to 3.1%, from 2.76% in December, according to economists in a Bloomberg survey.
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