Brazil Retail November 2017

Brazil

Brazil: Retail sales rebound in November

January 9, 2018

Retail sales (excluding cars and construction) rose 0.7% from the previous month in seasonally-adjusted terms in November, which contrasted October’s revised 0.7% fall (previously reported: -0.9% month-on-month).

Looking at November’s result in detail, rising sales were seen for six of the eight components of the index, with higher supermarket sales driving the upturn. Meanwhile, sales of clothing and footwear were unchanged from the previous month.

On an annual basis, retail sales increased 5.9% in November, which was notably above October’s 2.6% growth. The trend rose and the annual average variation in retail sales came in at 1.1%, after 0.3% in October.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 3.0% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel sees retail sales growing 3.7%.


Author: Angela Bouzanis, Lead Economist

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Brazil Retail Chart


Brazil Retail November 2017

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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