Brazil Retail April 2019


Brazil: Retail sales growth contracts in April

June 12, 2019

Retail sales (excluding cars and construction) fell 0.6% from the previous month in seasonally-adjusted terms in April, contrasting March’s 0.1% increase. The result undershot market expectations of a flat reading and suggests that the economy’s weaknesses in Q1 may have spilled over into Q2.

Five of the eight subcomponents recorded falling sales in April, including sales of food, beverages and tobacco.

On an annual basis, retail sales increased 1.7% in April, contrasting March’s 4.4% contraction. Annual average growth in retail sales was unchanged at March’s 1.4% in April.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 2.7% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees retail sales growing 3.3%.

Author: Angela Bouzanis, Lead Economist

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Brazil Retail Chart

Brazil Retail April 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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