Brazil: Retail sales contract in July
September 13, 2016
Retail sales (excluding cars and construction) fell back to contraction in July, declining 0.3% over the previous month in seasonally-adjusted terms. The result contrasted June’s revised 0.3% expansion (previously reported: -0.3% month-on-month). Broad-based declines were recorded across the index, with seven of the eight components recording contractions.
On an annual basis, retail sales fell 5.3% in July, which was a steeper fall than June’s 4.8% contraction. The trend continued to point down as annual average variation in retail sales inched down from minus 6.6% to minus 6.8%.