Brazil: Retail sales record slight growth in June
Retail sales (excluding cars and construction) rose 0.1% from the previous month in seasonally-adjusted terms in June, which followed May’s revised zero growth (previously reported: -0.1% month-on-month). The broadly stable result chiefly reflected flat growth in sales of food, beverages and tobacco products and a small increase in sales of other personal and household articles. Meanwhile, four of the eight subcomponents recording falling sales in June.
On an annual basis, retail sales dropped 0.3% in June, which contrasted May’s 1.0% rise and marked a three-month low. Annual average growth in retail sales inched down to 1.2% in June from 1.3% continuing the downward trend seen since the start of 2018.