Brazil Retail July 2021

Brazil

Brazil: Retail sales growth increased from previous month in July

September 10, 2021

Retail sales increased 1.2% in month-on-month seasonally-adjusted terms in July, which was a mild improvement on June's 0.9% increase. The higher reading reflected a broad-based upturn across the major sectors, with supermarkets, food, drinks and tobacco, other articles for household and personal use, and clothing and footwear all rebounding to growth in July.

On an annual basis, retail sales growth slowed to 5.7% in July, which was well slightly lower than June’s 6.3% expansion and marked a four-month low. As such, annual average retail sales growth matched June’s reading of 5.9% in July, signaling a pause in the uptrend in the retail trade sector that had been observed over the past five months.

LatinFocus Consensus Forecast panelists expect retail sales to grow 3.0% in 2021, which is up 0.2 percentage points from last month’s forecast, and 2.7% in 2022.


Author:, Economist

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Brazil Retail July 2021

Note: Month-on-month changes of seasonally-adjusted retail sales and annual average growth rate in %.
Source: Brazilian Institute of Statistics and Geography (IBGE) and FocusEconomics Consensus Forecast.


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