Brazil Retail


Retail sales record second consecutive contraction in March

In March, retail sales in Brazil (excluding cars and construction) fell 0.9% over the previous month in seasonally-adjusted terms, which followed February’s 0.4% decrease and marked a larger drop than market expectations of a 0.4% contraction. The monthly deterioration came on the back of a worsening in six of eight components of the index, compared to February. The largest decrease in sales was recorded for furniture and household appliances.

On an annual basis, retail sales rose 0.4% in March, which contrasted the 3.3% decrease recorded in February. Annual average growth in retail sales rose from 0.9% in February to 1.0% in March.

LatinFocus Consensus Forecast panelists expect retail sales to expand 2.5% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees retail sales growing 2.9%.

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Brazil Retail Chart

Brazil Retail March 2015

Note: Year-on-year changes of GDP in %
Source: Brazilian Institute of Statistics and Geography (IBGE) and FocusEconomics Consensus Forecast.

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