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July Industrial Production, Cabinet Reform Approval Imminent

BRAZIL
  • The Minister of Social Communication, Paulo Pimenta, said last night that the ministerial reform should be completed by President Lula “in the next few hours”. Pimenta added that the reform will put PP and Republicanos parties as part of the government support base.
  • The Lower House has approved the urgency of the “Desenrola” bill, which among other things may regulate the interest rate charged on credit cards’ revolving credit.
  • Industrial production likely declined in July on a monthly basis, according to the median estimate in a Bloomberg survey, after remaining unchanged the month before The data docket remains very light this week, given the proximity to the independence day holiday on Thursday.
    • 1300BST/0800ET: July Industrial Production M/m, est. -0.3%, prior 0.1%
    • 1300BST/0800ET: July Industrial Production Y/y, est. -0.5%, prior 0.3%
    • 1400BST/0900ET: Aug. S&P Global Brazil Composite PM, prior 49.6
    • 1400BST/0900ET: Aug. S&P Global Brazil Services PMI, prior 50.2
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