Brazil: Retail sales expand at fastest pace in six months in January
Retail sales grew 0.8% in month-on-month seasonally-adjusted terms in January, which contrasted December’s 0.1% decrease. January’s improvement was partly driven by a weaker contraction in supermarkets, food, drinks and tobacco sales. In addition, other articles for household and personal use sales rebounded. Contrastingly, textiles, clothing and footwear sales decreased at a sharper rate, while furniture and appliances sales dipped at a steeper pace than in December.
On an annual basis, retail sales fell at a more moderate rate of 1.9% in January (December: -3.0% yoy). Meanwhile, annual average retail sales growth fell to 1.3% in January, down slightly from December’s 1.4% reading.