Brazil’s retail sales surge in June

The retail sales volume in Brazil returned to pre-crisis levels in June, growing by 0.5% y/y, as many populous states allowed stores to reopen during that month. However, during Q2 2020, retail sales dropped by 7.6% y/y, as the sales volume plummeted in April and May, due to the adoption social distancing measures intended to tackle the COVID-19 outbreak in Brazil.  

The Brazilian Institute of Geography and Statistics (IBGE), reported the highest annual growth in the component of furniture & appliances (25.6% y/y), supermarkets (8.2% y/y) and pharmaceuticals, cosmetics & perfumery (7% y/y). The biggest annual drop was registered in textile, apparel & footwear, which declined by 44.5% y/y. 

Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q2 2020 report.