Brazil: Retail sales gain pace in April
June 14, 2012
In April, retail sales (excluding cars and construction) rose 0.8% over the previous month in seasonally adjusted terms. The reading was above the 0.3% increase observed in March but was below market expectations of a 1.4% rise. On an annual basis, retail sales expanded 6.0% in April, below both the 12.5% rise in March and market expectations of a 7.5% increase. Among the eight categories that compose the narrow retail sales index, six increased over the previous month. Most notably, sales in the fuels and lubricants category recorded the largest increase over the previous month. Meanwhile, the broad retail sales index, which includes automobiles and construction materials, rose 0.7% over the previous month. Annual average growth in retail sales edged down from 7.5% in March to 7.2% in April.