Brazil Retail July 2019

Brazil

Brazil: Retail sales pick up in July

September 10, 2019

Retail sales (excluding cars and construction) rose 1.0% from the previous month in seasonally-adjusted terms in July, which followed June’s revised 0.5% growth (previously reported: +0.1% month-on-month) and marked the best reading since November 2018.

The upturn chiefly reflected higher sales of food, beverages and tobacco products; other personal and household articles; and furniture and household appliances.

On an annual basis, retail sales rose 4.4% in July, which was notably above June’s 0.1% rise. Annual average growth in retail sales rose to 1.6%, above June’s 1.2% and breaking the downward trend seen since the start of 2018.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 1.8% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees retail sales growing 3.1%.


Author: Angela Bouzanis, Lead Economist

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Brazil Retail July 2019

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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