Retail sales in Brazil accelerate in August
The retail sales in Brazil, measured by the volume index, recorded the fourth increase in a row in August, rising by 6% y/y, supported by government measures to deal with the COVID-19 crisis, such as income transfer programmes and lowering interest rates.
Furniture and appliances continue to record the highest increase in sales among the different segments, growing by 36.3% y/y in August, compared to 26.4% y/y in July. The segment of other personal and household articles rose by 18.9% y/y in August, followed by pharmaceutical and cosmetics, which grew by 8.8% y/y. In terms of the extended retail, the sales of construction materials improved by 24.1% y/y in August, after climbing by 22.8% y/y in July.
Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q3 2020 report.