Brazil: Retail sales growth softens in February
Retail sales grew 1.1% in month-on-month seasonally-adjusted terms in February, which was a deterioration from January’s 2.1% increase. Looking at the details of the release, other articles for household and personal use sales slowed in February, while textiles, clothing and footwear sales moderated.
On an annual basis, retail sales rebounded, rising 1.3% in February (January: -1.5% yoy), the best result since July 2021. Consequently, the trend improved, with the annual average growth of retail sales coming in at 1.7% in February, up from January’s 1.3% reading.