Brazil Retail


Retail sales growth moderates in February

In February, retail sales (excluding cars and construction) increased 0.2% over the previous month in seasonally-adjusted terms. The result came in slightly below the 0.4% increase tallied in January, although it met market expectations. On an annual basis, retail sales expanded 8.5% in February, which was above the 6.4% growth rate registered in January and marked the largest expansion since October 2012.

An expansion in just three of the eight categories that make up the index more than offset the decline tallied in other categories. Office equipment, computers and communications registered the strongest expansion. Fuels and lubricants as well as personal and household goods also rose in February. On the contrary, supermarket sales, textile, and books, journals and magazines registered a drop in sales.

LatinFocus Consensus Forecast panelists expect growth in retail sales to expand 4.2% in 2014, which is up 0.2 percentage points from last month's forecast. For 2015, the panel sees retail sales growing 3.7%.


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Brazil Retail Chart

Brazil Retail February 2014

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

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