Brazil Retail


Brazil: Retail sales deteriorate in May

July 14, 2015

In May, retail sales (excluding cars and construction) fell 0.9% over the previous month in seasonally-adjusted terms, which was a deterioration from April’s revised 0.5% decrease (previously reported: -0.4% month-on-month) and market analysts’ expectation of a 0.3% contraction. The monthly deterioration came on the back of a worsening in four of the eight components of the index, compared to April. A notable decrease was recorded in sales of food, beverages and tobacco.

On an annual basis, retail sales fell 4.5% in May, which marked the worst result since August 2003 (April: -3.3% year-on-year). As a result, annual average growth in retail sales fell from plus 0.2% in April to minus 0.5% in May.

LatinFocus Consensus Forecast panelists expect retail sales to contract 0.6% in 2015, which is down 0.5 percentage points from last month’s forecast. For 2016, the panel sees retail sales growing 1.1%.

Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart

Brazil Retail May 2015

Note: Year-on-year changes of GDP in %
Source: Brazilian Institute of Statistics and Geography (IBGE) and FocusEconomics Consensus Forecast.

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