Brazil Retail

Brazil

Brazil: Retail sales record the largest rise in over one year

October 15, 2014

In August, retail sales (excluding cars and construction) rose 1.1% over the previous month in seasonally-adjusted terms, which contrasted July’s 1.0% drop. The result exceeded market expectations of a 0.75% increase. Further, the print represented the largest expansion in over one year. The monthly increase was largely driven by an increase in sales of pharmaceuticals and communication equipment, as well as of clothing and footwear.

On an annual basis, retail sales contracted 1.1% in August, which followed the 0.9% contraction recorded in July. Annual average retail sales increased 3.6% in August, which was down from a 4.3% rise in July.

LatinFocus Consensus Forecast panelists expect retail sales to expand 2.6% in 2014, which is down 0.2 percentage points from last month’s forecast. For 2015, the panel sees retail sales growing 3.0%, which is down 0.1 percentage points from the previous month’s forecast.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart


Brazil Retail August 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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