Brazil Retail November 2021


Brazil: Retail sales growth rises in November

January 14, 2022

Retail sales expanded 0.6% in month-on-month seasonally-adjusted terms in November, which was above October's 0.2% increase. November's improvement was largely driven by faster growth in supermarkets, food, drinks and tobacco sales. In addition, other articles for household and personal use sales improved.

On an annual basis, retail sales dropped 4.2% in November, moderating notably from October’s 6.8% fall. Meanwhile, annual average retail sales growth fell to 1.9% in November (October: +2.6%), signaling a worsening trend in the retail trade sector.

LatinFocus Consensus Forecast panelists expect retail sales to grow 1.6% in 2022, which is unchanged from last month’s forecast, and 2.6% in 2023.

Author:, Economist

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Brazil Retail Chart

Brazil Retail November 2021

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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