Brazil Retail Sales Slip 0.3% in September, Defying Forecasts

Overview

• IBGE revised August’s core retail result to a 0.1% gain from 0.2%, setting up September’s weaker reading.
• Compared with a year earlier, core retail volumes rose 0.8%, with year-to-date growth at 1.5% and 12‑month growth at 2.1%.
• Six of eight core segments contracted, including supermarkets, apparel, fuels, electronics/IT, furniture and appliances, and books and stationery, while pharmaceuticals and other personal goods advanced.
• The expanded retail gauge that includes vehicles, construction materials and cash-and-carry rose 0.2% month on month and 1.1% year on year.
• The print undershot Valor Data’s median call for a 0.3% monthly increase, while nominal receipts in the core gauge were flat on the month and up 5.3% from a year earlier.