Brazil Retail

Brazil

Brazil: Retail sales record the largest drop in nearly six years

September 11, 2014

In July, retail sales (excluding cars and construction) fell 1.0% over the previous month in seasonally-adjusted terms, which followed June’s 0.7% drop. The result was unexpected and contrasted the 0.5% expansion the market had expected. Further, the print represented the largest drop in nearly six years. The monthly decrease was largely driven by a fall in sales of food and beverages as well as in furniture and appliances.

On an annual basis, retail sales contracted 0.9% in July, which contrasted the 0.9% expansion seen in June. Annual average retail sales increased 4.3% in July, which was down from a 4.8% rise in June.

LatinFocus Consensus Forecast panelists expect retail sales to expand 3.3% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel sees retail sales growing 3.7%.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart


Brazil Retail July 2014

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


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