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Brazil Retail October 2019

Brazil: Retail sales nearly flatline in October

Retail sales, excluding cars and construction, rose 0.1% from the previous month in seasonally-adjusted terms in October, below September’s 0.8% increase (previously reported: +0.7% month-on-month) and falling short of market expectations of a 0.3% rise.

Weaker retail sales growth was due to slumping sales at supermarkets and hypermarkets and a decline in spending on food products, beverages and tobacco, and books and other stationary goods. On the other hand, rising sales of fuels and lubricants partially offset the spending slowdown.

On an annual basis, retail sales jumped 4.2% in October, up from 2.2% in September. Meanwhile, annual average growth in retail sales inched up to 1.8% in October from 1.6% in September.

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