Brazil: Retail sales expand for second straight month in July
September 13, 2012
In July, retail sales (excluding cars and construction) rose 1.4% over the previous month in seasonally adjusted terms. The reading was below the 1.6% increase observed in June but above market expectations of a 1.0% rise. On an annual basis, retail sales expanded 7.1% in July, below the 9.4% rise observed in June but a notch above market expectations of a 7.0% increase. Among the eight categories that compose the narrow retail sales index, seven increased over the previous month. Most notably, sales in the office, computer and communication materials category recorded the largest increase over the previous month. Meanwhile, the broad retail sales index, which includes automobiles and construction materials, fell 1.5% over the previous month (June: +6.2% month-on-month). Annual average growth in retail sales remained unchanged at June's 7.5%.