Brazil: Retail sales rise in October
December 14, 2010
In October, retail sales (excluding cars and construction) increased a seasonally adjusted 0.4% over the previous month. The reading, which followed on a weak 0.3% rise in September, fell short of market expectations that saw retail sales add 1.1%. On an annual basis, retail sales decelerated from 12.0% in September to 8.8% in October. The monthly expansion reflected strong automobiles sales (+6.8% month-on-month), but was partially offset by a drop in computer and communication equipment sales (-10.0% mom) and weaker sales of beverages and tobacco (-0.2% mom). The broad index, which includes autos and construction goods, increased 2.0% over the previous month. As a result of the weak growth pace in retail sales, the annual average growth rate remained unchanged in October at 10.7%.