Brazil: Retail sales rebound meagerly in June
August 9, 2016
Retail sales (excluding cars and construction) returned to expansion in June, growing a slight 0.1% over the previous month in seasonally-adjusted terms. The result contrasted May’s revised 0.9% contraction (previously reported: -1.0% month-on-month). Three of the eight components of the index posted growth, with textile, clothing and footwear growing notably.
On an annual basis, retail sales fell 5.3% in June, which was a notable improvement from May’s steeper 9.0% contraction and marked a four-month high. Despite the result, the trend continued to point down. Annual average variation in retail sales fell from minus 6.5% to 6.7%.