Brazil: Retail sales rebound in September
November 10, 2011
In September, retail sales (excluding cars and construction) rose a seasonally adjusted 0.6% over the previous month. The reading contrasted the 0.4% decline recorded in August and exceeded market expectations of a more moderate 0.4% increase. On an annual basis, retail sales decelerated from 6.3% in August to 5.3% in September. Most notably, sales in the pharmaceutical and medical goods category rose 2.2%. Meanwhile, the broad retail sales index, which includes automobiles and construction materials, rose 0.9% over the previous month, with both vehicle and construction sales increasing in September. Overall, seven out of ten categories increased in September compared to the previous month. Annual average growth in retail sales fell from 8.2% in August to 7.7% in September.