Itaú BBA - Retail sales increase in August

Macro Brazil

< Volver

Retail sales increase in August

octubre 11, 2018

Better-than-expected readings


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

After three consecutive monthly declines, core retail sales climbed 1.3% mom/sa in August, beating the median of market expectations (+0.2%) and our estimate (stability).

Broad retail sales (including vehicles and construction material) advanced 4.2% during the month, also topping the median of market expectations (+2.4%) and our call (+1.8%). Hence, sales were 3.2% higher than before the truckers’ stoppages (February-April average).

For the time being, we forecast declines in core (-0.4%) and broad retail sales (-1.2%) in September.
 

Artur Manoel Passos
Alexandre Gomes da Cunha

 

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



< Volver