Brazil: Retail sales fall in December
February 12, 2020
Retail sales, excluding cars and construction, fell 0.1% over the prior month on a seasonally-adjusted basis in December, contrasting November’s revised 0.7% increase (previously reported: +0.6% month-on-month). The figure disappointed analysts’ expectations of a 0.2% rise and marked the poorest result in eight months.
December’s decline was driven by declining sales of food products, beverages and tobacco; pharmaceutical and medical goods; and clothing and footwear. Conversely, higher sales of furniture and household appliances, and books and other stationery goods offset the drop.
On an annual basis, retail sales growth eased to 2.7% in December from 3.1% in November. Meanwhile, annual average growth in retail sales increased to 1.9% in December from 1.6% in November.
Author: Lindsey Ice, Economist