Brazil Retail


Brazil: Growth in retail sales accelerates in October

December 12, 2014

In October, retail sales (excluding cars and construction) rose 1.0% over the previous month in seasonally-adjusted terms. The result overshot both market expectations of a 0.5% rise and September’s 0.4% increase. The monthly acceleration was driven by increases in all but one of the eight components of the index compared to September. The largest increase in sales was recorded for office and communication equipment.

On an annual basis, retail sales increased 1.8% in October, which was above the 0.5% rise recorded in September, and marked a five-month high. However, annual average retail sales decreased from a 3.4% rise in September to a 3.1% expansion in October, and now stands at its lowest level since May 2004.

LatinFocus Consensus Forecast panelists expect retail sales to expand 2.6% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel sees retail sales growing 3.0%.

Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart

Brazil Retail October 2014

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

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