Brazil: Fall in retail sales moderates in January
March 11, 2016
Retail sales (excluding cars and construction) fell 1.5% in January over the previous month in seasonally-adjusted terms, which was an improvement from December’s 2.7% contraction. December’s fall had marked the worst result on record. Despite the improvement, contractions were recorded in six of the eight components of the index. Specially, sales of furniture and household appliances recorded a profound drop.
On an annual basis, retail sales plummeted 10.3% in January, which followed December’s 7.2% fall, and marked the worst result in over a decade. The trend continued to point down, as annual average growth in retail sales deteriorated from minus 4.3% to minus 5.2%.