Brazil: Retail sales slow in November but beat expectations
November 14, 2014
In November 2014, retail sales (excluding cars and construction) rose 0.9% over the previous month in seasonally-adjusted terms, which was below October’s 1.3% rise. The result was above market expectations of a meager 0.2% increase and marked the fourth consecutive month of growth. The monthly deceleration was driven by decreases in four of eight components of the index, compared to October. The largest decrease in sales was recorded for food and beverages.
On an annual basis, retail sales increased 1.0% in November, which was below the 2.2% expansion recorded in October. Annual average retail sales increased 2.6% in November, which was also down from a 3.1% rise in the previous month.