Brazil: Retail sales continue to contract in June
August 13, 2018
Retail sales (excluding cars and construction) fell 0.3% from the previous month in seasonally-adjusted terms in June, following May’s revised 1.2% contraction (previously reported: -0.6% month-on-month).
Drops in sales of fuels and lubricants; and hypermarkets, supermarkets, food products, beverages and tobacco drove the month-on-month decline.
On an annual basis, retail sales increased 1.5 in June, a sharp deterioration from May’s 2.7% rise. Annual average growth came in at 3.6% from May’s 3.7%.
Brazil Retail Sales Forecast
Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 3.3% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees retail sales growing 3.4%.