Brazil Retail September 2016

Brazil

Brazil: Retail sales record worst result in 6 months in September

November 10, 2016

Retail sales (excluding cars and construction) fell 1.0% in September from the previous month in seasonally-adjusted terms. The result was a sharper drop than August’s revised reading (previously reported: -0.6% month-on-month) and marked the worst result since March. Broad-based declines were recorded across the index, with six of the eight components recording contractions.

On an annual basis, retail sales fell 5.9% in September, which was a more pronounced decline than August’s 5.5% contraction. The trend inched up in September as annual average variation in retail sales rose from minus 6.7% to minus 6.6%.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to contract 5.6% in 2016, which is down 0.8 percentage points from last month’s forecast. For 2017, the panel sees retail sales growing 0.4%, which is down 0.3 percentage points from the previous month’s estimate.


Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart


Brazil Retail September 2016

Note: Month-on-month changes of seasonally-adjusted retail sales and annual average growth rate in %.
Source: Brazilian Institute of Statistics and Geography (IBGE) and FocusEconomics Consensus Forecast.


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