Brazil Retail May 2018

Brazil

Brazil: Retail sales drop in May

July 10, 2018

Retail sales (excluding cars and construction) fell 0.6% from the previous month in seasonally-adjusted terms in May, contrasting April’s revised 0.7% expansion (previously reported: +1.0% month-on-month). The result marked the first contraction in five months.

All subcategories of the index deteriorated in May, with sales of fuels and lubricants, and books, newspapers and stationary recording the sharpest declines. A nationwide truckers strike that took place at the end of the month likely also affected the result.

On an annual basis, retail sales increased 2.7% in May, a sharp improvement from April’s 0.6% rise. The trend, however, was stable in May, and annual average growth came in at April’s 3.7%.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 3.3% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees retail sales growing 3.4%.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail May 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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