Brazil Retail November 2020

Brazil

Brazil: Retail sales fall for the first time in seven months in November

January 15, 2021

Retail sales dropped 0.1% month-on-month in seasonally-adjusted terms in November (October: +0.8% mom), marking the first contraction since April. November's result came on the back of drops in supermarkets, food, drinks and tobacco and fuels and lubricants sales. Lastly, textiles, clothing and footwear sales lost steam, while furniture and appliances sales fell at a softer pace than in the prior month.

On an annual basis, retail sales rose 3.4% in November, which was well below October’s 8.4% expansion and marking the worst result since June. Meanwhile, the trend was unchanged in November with the annual average growth of retail sales coming in at October’s 1.3%.

LatinFocus Consensus Forecast panelists expect retail sales to grow 3.5% in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, the panel sees retail sales growing 3.5%..


Author:, Economist

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Brazil Retail November 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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