Brazil: Retail sales record softest growth in five months in May
Retail sales increased 0.1% in month-on-month seasonally-adjusted terms in May, which was a deterioration from April’s 0.8% increase. May’s result marked the weakest reading since December 2021. Looking at the details of the release, the contraction in other articles for household and personal use sales worsened, while furniture and appliances sales dipped at a steeper pace than in April. Supermarkets, food, drinks and tobacco sales bounced back in May, while. Lastly, textiles, clothing and footwear sales accelerated.
On an annual basis, retail sales decreased 0.2% in May, contrasting April’s 4.5% expansion. Consequently, the trend pointed down, with the annual average variation of retail sales coming in at minus 0.4% in May, contrasting April’s plus 0.7% reading.