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.