Brazil Retail September 2020

Brazil

Brazil: Retails sales growth slows further in September

November 11, 2020

Retail sales grew 0.6% month-on-month in seasonally-adjusted terms in September (August: +2.9% mom), marking the worst reading since April.

Looking at the details of the release, supermarkets, food, drinks and tobacco sales decreased at a softer rate in September. Meanwhile, other articles for household and personal use sales, as well as textiles, clothing and footwear, and furniture and appliances sales swung to contraction.

On an annual basis, retail sales rose at a quicker rate of 7.3% in September (August: +6.2% yoy), the best result since March 2018. Accordingly, annual average retail sales growth rose to 0.9% in September (August: +0.5%), signaling an improving trend in the retail trade sector.

LatinFocus Consensus Forecast panelists expect retail sales to grow 1.1% in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, the panel sees retail sales growing 3.7%, which is also down 0.2 percentage points from last month’s estimate.


Author:, Economist

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Brazil Retail September 20 20

Note: Month-on-month changes of seasonally-adjusted retail sales and annual average growth rate in %.
Source: Brazilian Institute of Statistics and Geography (IBGE) and FocusEconomics Consensus Forecast.


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