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Brazil Retail September 2022

Brazil: Retail sales grow at fastest pace in six months in September

Retail sales rose 1.1% month on month in seasonally-adjusted terms in September (August: +0.1% mom). The figure marked the best reading since March. Looking at the details of the release, the improvement was largely driven by faster growth in supermarkets, food, drinks and tobacco sales. Meanwhile, textiles, clothing and footwear sales lost pace, while other articles for household and personal use sales contracted at a more moderate pace.

On an annual basis, retail sales rose at a quicker rate of 3.2% in September (August: +1.6% yoy), the best result since April. Accordingly, the trend improved significantly, with the annual average variation of retail sales coming in at minus 0.7% in September, up from August’s minus 1.4%.

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