Brazil Retail December 2019

Brazil

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.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 3.0% in 2020, which is up 0.2 percentage points from last month’s forecast. For 2021, the panel sees retail sales growing 3.0%.


Author:, Economist

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Brazil Retail Chart


Brazil Retail December 2019

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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