Brazil: Retail sales slow in November
January 15, 2013
In November, retail sales (excluding cars and construction) rose 0.3% over the previous month in seasonally adjusted terms. The reading was below the 0.8% increase observed in October but above market expectations of a 0.2% rise. On an annual basis, retail sales expanded 8.4% in November, below the 9.2% rise tallied in October but virtually in line with market expectations of an 8.3% increase.
Among the eight categories that compose the narrow retail sales index, five increased over the previous month. Most notably, sales in the other articles of personal and domestic use as well as in the textiles, apparel and footwear categories recorded the largest gains over the previous month. Meanwhile, the broad retail sales index, which includes automobiles and construction materials, fell 1.2% over the previous month (October: +5.0% month-on-month).
Meanwhile, annual average growth in retail sales nudged up from 8.5% in October to 8.6% in November.