Brazil: Retail sales contract in October
December 13, 2017
Retail sales (excluding cars and construction) fell 0.9% from the previous month in seasonally-adjusted terms in October, which contrasted September’s revised 0.3% rise (previously reported: +0.4% month-on-month). The result notably undershot market analysts’ expectations of a 0.9% rise.
Looking at October’s result in detail, falling sales were seen for five of the eight components of the index, with lower supermarket sales driving the downturn. In contrast, purchases of fuels and lubricants rose notably.
On an annual basis, retail sales increased 2.5% in October, which was notably below September’s 6.2% growth. Despite the deceleration, the trend rose and the annual average variation in retail sales swung from minus 0.6% in September to plus 0.3% in October.