Brazil’s retail sales up 1.3% y/y in August
Retail sales in Brazil rose 1.3% year-on-year in August, slowing sharply compared to the 4.3% y/y hike recorded in July, CEEMarketWatch reported citing figures released by the statistics office IBGE. The deceleration is partially explained by working-day effects.
Five of the eight sector decreased in y/y terms during the month with fuel and lubricant sales falling the most – 2.9% y/y, sharply down compared to the 5% y/y hike scored a month earlier.
Other sectors maintained its growth trend, but decelerated significantly. This is the case of pharmaceutical and cosmetics sales which slowed by 3.3% to 5.2% y/y gain.
On the other hand, food, beverages and tobacco sales accelerated by 0.7% to 2.4% y/y growth in August, posting the highest positive impact on retail sales.
Original source: CEEMarketWatch