In February, retail sales (excluding cars and construction) contracted 0.4% over the previous month after seasonal adjustments. The reading, which contrasted a 1.1% rise in January, undershot analysts' expectations of a flat reading. On an annual basis, however, growth in retail sales remained stable at the 8.2% tallied in January. Annual growth rates are likely to decrease further due to an unfavourable base effect, as retail trade rose at a double-digit pace during most of 2010. The decrease, which marked the first negative reading since April 2010, was driven by weaker trade of furniture and home appliances (-2.8% month-on-month) as well as books (-4.7% mom). Meanwhile, in February, the broad index, which includes automobiles and construction materials registered flat growth over the previous month, with vehicles sales dropping 1.1% mom followed by a 1.5% mom decrease in construction materials trade. The drop reflects higher borrowing costs for the acquisition of automobiles, as the Central Bank tightened policy in order to slow the pace of credit growth. Owing to a high comparison base, annual average growth in retail sales moderated from 10.7% in January to 10.4% in February.
Retail sales drop for the first time since April 2010
April 12, 2011
Looking for forecasts related to Retail in Brazil? Download a sample report now.
Brazil Economic News
October 25, 2016
Brazil’s current account balance improved in September, continuing to build on the considerable gains made over the past year.
October 19, 2016
At its 19 October meeting, the Central Bank’s Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to cut the benchmark SELIC interest rate for the first time in four years, lowering it from 14.25% to 14.00%.
October 18, 2016
Retail sales (excluding cars and construction) fell 0.6% in August from the previous month in seasonally-adjusted terms.
October 7, 2016
Consumer prices in September increased 0.08% over the previous month, the lowest rise since July 2014.
October 4, 2016
In August, industrial production plunged 3.8% over the previous month in seasonally-adjusted terms, which significantly contrasted the 0.1% expansion recorded in July and marked the worst result since January 2012.