Brazil Retail May 2016


Brazil: Retail sales return to contraction

July 12, 2016

Retail sales (excluding cars and construction) returned to contraction in May, falling 1.0% over the previous month in seasonally-adjusted terms. The result notably contrasted April’s revised 0.3% expansion (previously reported: +0.5% month-on-month). Six of the eight components of the index contracted, with furniture and household appliances recording a profound fall.

On an annual basis, retail sales fell 9.0% in May, which was a steeper drop than April’s 6.9% contraction. As a result, the trend deteriorated. Annual average variation in retail sales fell from minus 6.1% to 6.5%.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to contract 3.6% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees retail sales growing 0.8%.

Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart

Brazil Retail May 2016 0

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

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