Brazil’s retail sales jump on a monthly basis in May

The volume of retail sales in Brazil experienced a rebound in May, expanding by 13.9% m/m, after recording a 16.3% decline in April, seasonally adjusted data shows. According to the Brazilian Institute of Geography and Statistics (IBGE), the improvement could be explained by the low base effect in April.

 
The institute reported the highest monthly growth in textile, apparel & footwear (100.6% m/m) and furniture and appliances (47.5% m/m). The sales of vehicles, motorcycles and parts increased by 51.7% m/m. However, on an annual basis, the retail sales volume index contracted by 6.6% y/y in May, compared to a 17.6% y/y decline in April.

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