Brazil: Retail sales fall at sharpest pace since June in November
Retail sales dropped 0.6% month on month in seasonally-adjusted terms in November (October: +0.3% mom). November’s outturn marked the worst reading since June. Looking at the details of the release, the slide reflected a broad-based downturn across the major sectors: Supermarkets, food, drinks and tobacco, other articles for household and personal use and fuels and lubricants all contracted in November. Lastly, textiles, clothing and footwear sales declined at a softer rate, while furniture and appliances sales decelerated.
On an annual basis, retail sales rose at a softer pace of 1.5% in November (October: +2.7% yoy). Meanwhile, annual average retail sales growth rose to 0.6% in November (October: +0.1%), signaling an improving trend in the retail trade sector.