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LatAm   On an annual basis, retail sales fell 5.3% in Brazil

Retail sales in Brazil declined 0.3% in July

Retail sales BrazilRetail sales in Brazil, excluding cars and construction, fell back to contraction in July, declining 0.3% over the previous month in seasonally-adjusted terms.

The result contrasted June’s revised 0.3% expansion (previously reported: -0.3% month-on-month). Broad-based declines were recorded across the index, with seven of the eight components recording contractions, Focus Economics reports.

READ MORE Retail in Brazil saw sharpest decline in 16 years

On an annual basis, retail sales fell 5.3% in July, which was a steeper fall than June’s 4.8% contraction. The trend continued to point down as annual average variation in retail sales inched down from minus 6.6% to minus 6.8%.

Panelists participating in this month’s LatinFocus Consensus Forecast expect retail sales to contract 4.8% in 2016, which is down 0.5 percentage points from last month’s forecast. For 2017, the panel sees retail sales growing 0.8%.




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