Brazil Retail


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.

LatinFocus Consensus Forecast panelists expect retail sales to expand 2.5% in 2015, which is unchanged from last month’s forecast. For 2065, the panel sees retail sales growing 2.9%.

Author: Angela Bouzanis, Senior Economist

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Brazil Retail Chart

Brazil Retail November 2014

Note: Year-on-year changes of GDP in %
Source: Brazilian Institute of Statistics and Geography (IBGE) and FocusEconomics Consensus Forecast.

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