Brazil: Retail sales fall in June
August 19, 2014
In June, retail sales (excluding cars and construction) fell 0.7% over the previous month in seasonally-adjusted terms. The result contrasted both the revised 0.3% rise tallied in May (previously reported: +0.5% month-on-month) and market expectations of a 0.4% expansion. Moreover, it marked the sharpest contraction since May 2012. On an annual basis, retail sales expanded a timid 0.8% in June, which was down from the 4.6% expansion seen in May.
The monthly drop was broad based as six out of the eight categories that make up the index registered contractions in June. Fuels, furniture as well as well as desktop material registered the strongest drops.