Brazil Retail June 2016

Brazil

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%.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to contract 4.3% in 2016, which is down 0.7 percentage points from last month’s forecast. For 2017, the panel sees retail sales growing 0.8%.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart


Brazil Retail June 2016 0

Note: Year-on-year changes of GDP in %
Source: Brazilian Institute of Statistics and Geography (IBGE) and FocusEconomics Consensus Forecast.


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