Brazil: Retail sales expand for third straight month in August
October 11, 2012
In August, retail sales (excluding cars and construction) rose 0.2% over the previous month in seasonally adjusted terms. The reading was below the 1.4% increase observed in July but above market expectations of a flat reading. On an annual basis, retail sales expanded a robust 10.1% in August, above both the 7.2% rise observed in July and market expectations of a 9.1% increase. Among the eight categories that compose the narrow retail sales index, five increased over the previous month. Most notably, sales in the office, computer and communication materials category recorded the largest gain over the previous month. Meanwhile, the broad retail sales index, which includes automobiles and construction materials, rose 2.7% over the previous month (July: -1.0% month-on-month).