Brazil Retail

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Brazil: Retail sales record largest fall ever in December

February 12, 2015

In December 2014, retail sales (excluding cars and construction) fell 2.6% over the previous month in seasonally-adjusted terms, which contrasted November’s 1.5% rise and market expectations of a 0.2% increase. December’s result marked the first month of decrease after four consecutive months of growth and the largest contraction ever recorded. The monthly deceleration was driven by deterioration in six of eight components of the index, compared to November. The largest decrease in sales was recorded for furniture and household appliances.

On an annual basis, retail sales increased 0.3% in December, which was below the 1.4% expansion recorded in November. Annual average retail sales increased 2.2% in December, which was also down from a 2.6% rise in the previous month. For the full year 2014, retail sales rose 2.2%, which was below 2013’s 4.3%.

LatinFocus Consensus Forecast panelists expect retail sales to expand 2.5% in 2015, which is unchanged from last month’s forecast. For 2065, the panel sees retail sales growing 2.9%.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart


Brazil Retail December 2014 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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