In August, retail sales (excluding cars and construction) contracted a seasonally adjusted 0.4% over the previous month. The reading contrasted the revised 1.2% increase recorded in July (previously reported: +1.4% month-on-month) and fell short of market expectations of a more moderate 0.1% decline. Moreover, the figure represented the first decline in retail sales since April. On an annual basis, retail sales decelerated from 7.1% in July to 6.2% in August. Eight out of ten activities declined in August compared to the previous month. Most notably, sales in the fabric, apparel and footwear category contracted 2.8%. Meanwhile, the broad retail sales index, which includes automobiles and construction materials, fell 2.3% over the previous month, with both vehicle and construction sales declining in August. Annual average growth in retail sales fell from 8.5% in July to 8.2% in August.
Retail sales drop for first time in four months
October 11, 2011
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Brazil Economic News
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.
October 3, 2016
The Markit manufacturing Purchasing Managers’ Index (PMI) rose slightly in September, increasing from August’s 45.7 to 46.0.