Brazil: Retail sales contract again in October
Retail sales (excluding cars and construction) dropped 0.4% from the previous month in seasonally-adjusted terms in October, marking the second consecutive contraction (September: -1.3% month-on-month). The fall was driven by decreasing sales in five of the eight categories, including fuel.
On an annual basis, retail sales rose 2.0% in October, notably above September’s 0.2% expansion. Annual average growth of retail sales was stable at September’s 2.8% in October.