Brazil Retail April 2018

Brazil

Brazil: Retail sales growth steadies in April

June 13, 2018

Retail sales (excluding cars and construction) rose 1.0% from the previous month in seasonally-adjusted terms in April, broadly unchanged from March’s revised 1.1% increase (previously reported: +0.3% month-on-month). The result beat market analysts’ expectations of a 0.6% increase.

Behind the reading, was solid growth in sales of fuels and lubricants as well as of food and beverages. However, sales of clothing and footwear lost steam in April.

On an annual basis, retail sales increased 0.6% in April, a sharp slowdown from March’s 8.0% rise. The stark deterioration, however, is largely due to an unfavorable calendar effect from the earlier timing of Easter this year. As a result, the trend dipped in April, and annual average growth came in at 3.7%, down a notch from March’s 3.8%.

Brazil Retail Sales Forecast


Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 3.3% in 2018, which is up 0.2 percentage points from last month’s forecast. For 2019, the panel sees retail sales growing 3.4%.


Author: Angela Bouzanis, Lead Economist

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Brazil Retail Chart


Brazil Retail April 2018 0

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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