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Brazil Retail October 2022

Brazil: Retail sales growth eases in October

Retail sales expanded 0.4% month on month in seasonally adjusted terms in October (September: +1.2% mom). Looking at the details of the release, the reading was primarily driven by weaker supermarkets, food, drinks and tobacco sales. In addition, fuels and lubricants sales lost pace from September. These more than offset textiles, clothing and footwear, as well as furniture and appliances sales gaining pace.

On an annual basis, retail sales grew 2.7% in October, which was below Septembers 3.2% expansion. Still, the trend improved significantly, with the annual average variation of retail sales coming in at plus 0.1% in October, contrasting September’s minus 0.7% reading.

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