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.