Retail sales in Brazil rose 0.7% in November from October, the country’s statistics office said on Tuesday. The results, which exclude sales of vehicles and construction materials, were higher than the 0.2% increase expected by analysts polled by Ag?ncia CMA.
On an annual basis, retail sales grew for the eighth consecutive month in November, at a 5.9% rate, also above expectations of a 3.4% rise. It was the second highest increase of 2017.
Year-to-date, retail sales in Brazil rose 1.9%. In the 12 months through October, there was a 1.1% rise. Private consumption in Brazil represents around 60% of the country’s Gross Domestic Product (GDP).
Compared to October, five out of the eight retail sectors surveyed posted higher sales in November, highlighting the sectors with a strong presence in Internet sales, such as other articles of personal and domestic use (+8.0%) and furniture and household appliances (+ 6.1%). At the opposite end, drawbacks in fuels and lubricants prices (-1.8%) are noteworthy, as well as equipment and supplies for office, computer, and communication (-5.8%).
Annually, also five of the eight sectors posted higher sales, with hypermarkets, supermarkets, food products, beverages and tobacco (+ 5.2%) and furniture and appliances (+ 15.6%) posting the best results. On the low side, fuel and lubricants (-2.5%) and equipment and supplies for office, computer, and communication (-6.8%) fell the most.
The material has been provided by InstaForex Company – www.instaforex.com