Brazil: Retail sales shrink in September
November 13, 2018
Retail sales (excluding cars and construction) dropped 1.3% from the previous month in seasonally-adjusted terms in September, contrasting August’s 2.0% expansion.
The fall was largely broad-based with six of the eight categories recording decreased sales. The largest negative contribution came from falling sales of food products, beverages and tobacco.
On an annual basis, retail sales rose a modest 0.1% in September, notably below August’s 4.1% expansion. Annual average growth of retail sales fell from 3.3% in August to 2.8% in September.
Brazil Retail Sales Forecast
Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to increase 3.4% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees retail sales growing 3.5%.