Brazil Retail December 2017

Brazil

Brazil: Retail sales contract in December

February 9, 2018

Retail sales (excluding cars and construction) fell 1.5% from the previous month in seasonally-adjusted terms in December, which contrasted November’s revised 1.0% increase (previously reported: +0.7% month-on-month).

Declines were seen nearly across the board, with only two of the eight components of the index seen growth in sales. A sharp drop in supermarket sales and sales of fuels largely drove the downturn.

On an annual basis, retail sales increased 3.2% in December, which was notably below Novemer’s 6.0% growth. For the full year 2017, retail sales rose 2.0%, a notable improvement to 2016’s 6.3% contraction.

Brazil Retail Sales Forecast


Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 3.0% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees retail sales growing 3.7%.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart


Brazil Retail December 2017

Note: Month-on-month changes of seasonally-adjusted retail sales and annual average growth rate in %.
Source: Brazilian Institute of Statistics and Geography (IBGE) and FocusEconomics Consensus Forecast.


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