Brazil: Retail sales surge in June
August 15, 2017
Retail sales (excluding cars and construction) gained steam in June after recording meagre growth in May. Sales increased 1.2% from the previous month in seasonally-adjusted terms, which was above May’s revised 0.2% increase (previously reported: -0.1% month-on-month) and notably overshot market analysts expectations of a 0.4% rise.
Looking at June’s result in detail, increases were recorded in six of the eight components of the index. A notable rise was seen in sales of clothing and footwear, while sales of furniture and house appliances also posted solid growth.
On an annual basis, retail sales increased 3.0% in June, which was above May’s 2.6% increase and the best result since Mayt 2014. As a result, the trend rose and the annual average variation in retail sales came in at minus 3.0% in June, above May’s minus 3.6%.