Itaú BBA - Retail sales weaker than expectations in August

Macro Brazil

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Retail sales weaker than expectations in August

octubre 10, 2019

Retail sales remain on an upward trend


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

  In August, core retail sales rose 0.1% mom/sa (Itaú and market: +0.2%), while the broad index (including vehicles and construction material) remained stable (Itaú: +0.5%; market: +0.6%). 

 Credit-sensitive retail sales slowed down in annual terms but are still growing faster than income-sensitive sales.

 Consumer spending remains on an upward trend and withdrawals from the workers’ fund FGTS will likely provide a temporary boost to retail sales in the coming months.
 

Luka Barbosa
Alexandre Gomes da Cunha
Matheus Felipe Fuck

 

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



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