Brazil: Retail grow at fastest pace in 11 months in October
December 17, 2015
Retail sales (excluding cars and construction) improved notably in October, swinging from a revised 0.3% contraction in September (previously reported: -0.5% month-on-month) to a 0.6% expansion over the previous month in seasonally-adjusted terms. The result marked an 11-month high. October’s expansion came on the back of expansions recorded in five of the eight components of the index. Specially, sales of food, beverages and tobacco improved notably from the previous month.
On an annual basis, retail sales fell 5.6% in October, which was a moderation over September’s revised 6.3% decrease (previously reported: -6.2% year-on-year). However, the trend continued to deteriorate as annual average growth in retail sales fell from September’s minus 2.1% to minus 2.7% in October, reaching the lowest level since January 2004.