Brazil: Retail sales growth slows in April
Retail sales expanded 0.9% month-on-month in seasonally-adjusted terms in April (March: +1.4% mom). April’s downturn largely reflected drops in supermarkets, food, drinks and tobacco and fuels and lubricants sales. Meanwhile, textiles, clothing and footwear sales accelerated, while furniture and appliances sales gained steam.
On an annual basis, retail sales rose at a softer pace of 4.5% in April (March: +4.9% yoy). Meanwhile, annual average retail sales growth fell to 0.8% in April (March: +1.9%), which marked an over one-year low. Despite the slowdown in retail sales figures, the April data still suggested solid private consumption momentum at the outset of Q2.