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.
Author: Hanna Andersson, Economist