Brazil Retail February 2021

Brazil

Brazil: Retail sales rebound in February

April 13, 2021

Retail sales rose 0.6% in month-on-month seasonally-adjusted terms in February, which contrasted January's 0.2% decrease. February's figure was largely driven by a rebound in supermarkets, food, drinks and tobacco sales as well as in textiles, clothing and footwear sales. Moreover, furniture and appliances sales also returned to growth in February.

On an annual basis, retail sales dropped 3.8% in February, which was notably greater than January’s 0.4% fall and marking the worst result since May 2020. Moreover, the trend pointed down, with the annual average growth of retail sales coming in at 0.4%, down from January's 1.1% reading.

LatinFocus Consensus Forecast panelists expect retail sales to grow 1.9% in 2021, which is down 1.1 percentage points from last month’s forecast. For 2022, the panel sees retail sales growing 2.4%.


Author:, Economist

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Brazil Retail February 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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