Brazil: Retail sales continue to fall in October
December 13, 2016
Retail sales (excluding cars and construction) in Brazil fell 0.8% in October from the previous month in seasonally-adjusted terms. The result was a marginal improvement from September’s 1.0% drop but was worse than the 0.7% decline analysts had predicted. October’s figure was driven by falling sales of fuel, food, beverages and tobacco relative to September.
On an annual basis, retail sales fell 8.2% in October, which was a more pronounced decline than September’s 5.7% contraction. The annual average variation in retail sales dropped to a 15-year low of 6.8% in October.
Author: Oliver Reynolds, Economist