(Agencia CMA Latam) - Retail sales in Brazil fell by 0.9% in October from September, the country's statistics office said on Wednesday. The results, which exclude the sales of vehicles and construction materials, was unexpected as analysts polled by Agencia CMA projected a 0.2% rise.
On an annual basis, retail sales increased for the seventh consecutive month in September, at a 2.5% rate, also missing expectations of a 5.3% rise.
Year-to-date, retail sales in Brazil rose 1.4%. In the 12 months through October, there was a 0.3% rise. Private consumption in Brazil represents around 60% of the country's Gross Domestic Product (GDP).
Compared to September, five out of the eight retail sectors surveyed posted lower sales in October. Sales of personal and domestic use goods had the weakest performance, with a 3.5% decline, followed by textiles, clothing, and footwear (-2.7%)computer, and communication sales rose the most (+3.4%).
Annually, six of the eight sectors posted higher sales, with furniture and household appliances (+10.1%), and hypermarkets, supermarkets, food products, beverages and tobacco (+1.5%), posting the best results.
by Agencia CMA Latam
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