Brazil: Retail sales rise at fastest clip in eight months in April
Retail sales grew 1.8% month-on-month in seasonally-adjusted terms in April (March: -1.1% mom). April’s result marked the strongest rise since August 2020, although it was partly flattered by a low base effect. Looking at the details of the release, sales of other articles for household and personal use; textiles, clothing and footwear; and, furniture and appliances all expanded in April. Meanwhile, supermarkets, food, drinks and tobacco sales shrank compared to the previous month.
On an annual basis, retail sales rose at a quicker rate of 23.8% in April (March: +2.2% yoy), the best result on record. Moreover, the trend improved, with the annual average growth of retail sales coming in at plus 3.6%, up from March’s 0.7% reading.