Itaú BBA - Broad retail sales decline by less than expected in April

Macro Brazil

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Broad retail sales decline by less than expected in April

junio 16, 2020

Available data so far indicate that economic activity indicators have reached a low in April


For the version with all charts and tables, please open the attached pdf file

 

 Broad retail sales declined 17.5% mom/sa in April, better than market expectations (-20.1%) and our call (-20.7%).

 The decline was widespread among the different retail sectors.

 Available data so far indicate that economic activity indicators have reached a low in April, and are starting to recover in May and June. We forecast GDP to decline 4.5% this year.

 

Luka Machado Barbosa
Matheus Felipe Fuck


For the version with all charts and tables, please open the attached pdf file
 



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