During the first eight months of 2020, China’s industrial output rose by 0.4% y/y reflecting the lingering impact of the COVID-19 outbreak

Compared to the supply side, the demand side recovery in China has been slow

The SELIC rate remains at its lowest level, and below the expected inflation rate of 3.14% for the next 12 months

The index is well above the threshold of 50, which separates an optimistic perspective from a pessimistic one