Brazil: Decline in retail sales softens in September
Retail sales declined 1.3% in month-on-month seasonally-adjusted terms in September, which was a less pronounced contraction than August’s 4.3% decrease. Looking at the details of the release, supermarkets, food, drinks and tobacco sales decreased at a faster rate in September, while other articles for household and personal use sales dropped at a more moderate pace. Lastly, textiles, clothing and footwear sales decreased at a sharper rate, while furniture and appliances sales dipped at a steeper pace than in August.
On an annual basis, retail sales nosedived 5.5% in September (August: -4.1% yoy), the sharpest fall since May 2020. Accordingly, annual average retail sales growth fell to 3.9% in September (August: +5.0%), signaling a worsening trend in the retail trade sector.