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Brazil Retail February 2020

Brazil: Retail sales growth hits over one-year high in February

Retail sales, excluding cars and construction, grew 1.2% in seasonally-adjusted month-on-month terms in February, contrasting January’s revised 1.4% decline (previously reported: -1.0% month-on-month). February’s print beat out market analysts’ expectations of a 0.3% fall in retail sales.

February’s outturn was driven by a surge in clothing and footwear; furniture and household appliances; and supermarket, food, beverage and tobacco sales. On the other hand, sales of fuel and lubricants, and books and other stationery goods fell in the month.

On an annual basis, retail sales growth jumped to an almost two-year high of 4.7% in February from 1.4% in January. Meanwhile, annual average growth in retail sales ticked up to 1.9% in February from 1.8% in January.

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