Brazil Retail January 2016

Brazil

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%.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to contract 3.2% in 2016, which is down 0.3 percentage points from last month’s forecast. For 2017, the panel sees retail sales growing 0.7%.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart


Brazil Retail January 2016

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


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