Brazil: Retail sales record second consecutive contraction in March
May 14, 2015
In March, retail sales in Brazil (excluding cars and construction) fell 0.9% over the previous month in seasonally-adjusted terms, which followed February’s 0.4% decrease and marked a larger drop than market expectations of a 0.4% contraction. The monthly deterioration came on the back of a worsening in six of eight components of the index, compared to February. The largest decrease in sales was recorded for furniture and household appliances.
On an annual basis, retail sales rose 0.4% in March, which contrasted the 3.3% decrease recorded in February. Annual average growth in retail sales rose from 0.9% in February to 1.0% in March.