Brazil: Retail sales grow at fastest pace since July 2013
April 13, 2016
Retail sales (excluding cars and construction) returned to growth in February, expanding 1.2% over the previous month in seasonally-adjusted terms. The result notably contrasted January’s revised 1.9% contraction (previously reported: -1.5% month-on-month). Growth was recorded in half of the eight components of the index, with furniture and household appliances recording a profound increase.
On an annual basis, retail sales fell 4.2% in February, which was an improvement from January’s 10.6% contraction. January’s figure had marked the worst result in over a decade. As a result of the improvement, the trend stabilized. Annual average growth in retail sales was unchanged at January’s minus 5.3%.