Brazil Retail December 2020

Brazil

Brazil: Retail sales drop at fastest pace in eight months in December

February 10, 2021

Retail sales collapsed 6.1% month-on-month in seasonally-adjusted terms in December (November: -0.1% mom), marking the steepest fall since April. December's notable downturn was broad-based, with sales of textiles, clothing and footwear; furniture and electric household appliances; and, other articles for household and personal use contracting sharply.

On an annual basis, retail sales grew 1.2% in December, which was notably below November’s 3.6% expansion and marking the worst result since June. Accordingly, the trend pointed down, with the annual average growth of retail sales coming in at plus 1.2%, down from November's 1.3%.

LatinFocus Consensus Forecast panelists expect retail sales to grow 4.0% in 2021, which is up 0.5 percentage points from last month’s forecast. For 2022, the panel sees retail sales growing 2.9%..


Author:, Economist

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Brazil Retail December 20 20

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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