Brazil: Retail sales in April contract for third month in a row
June 17, 2015
In April, retail sales (excluding cars and construction) fell 0.4% over the previous month in seasonally-adjusted terms, which followed March’s 1.0% decrease and surprised market analysts who had expected a 0.7% expansion. The monthly deterioration came on the back of a worsening in five of the eight components of the index, compared to March. The largest decrease in sales was recorded for office equipment.
On an annual basis, retail sales fell 3.5% in April, which contrasted the 0.3% increase recorded in March. As a result, annual average growth in retail sales fell from 1.0% in March to 0.2% in April.