Brazil Retail July 2018

Brazil

Brazil: Retail sales drop again in July

September 13, 2018

Retail sales (excluding cars and construction) fell 0.5% from the previous month in seasonally-adjusted terms in July, following June’s revised 0.4% contraction (previously reported: -0.3% month-on-month) and marking the third consecutive drop.

The decline was largely broad-based with five of the eight categories recording contractions. The largest negative contribution was recorded in sales of furniture and household appliances.

On an annual basis, retail sales fell 1.0% in July, swinging from June’s 1.5% expansion and marking the worst result since March 2017. According, annual average growth fell from June’s 3.6% to 3.2% in July.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 2.8% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees retail sales growing 3.4%, also unchanged from last month’s forecast.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail July 2018

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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