Retail Sales: Modest Recovery

BRAZIL ECONOMICS - Report 13 Jun 2013 by Marcelo Gazzano, Cristina Pinotti and Affonso Pastore
The seasonally adjusted retail sales numbers for April show slightly stronger growth: in the restricted concept sales grew 0.5% and in the augmented concept (including cars and construction materials) they expanded 1.9% (Graph 1). Over the past 12 months through April, the rates are lower than in 2012, with restricted sales growing 1.6% and augmented sales up 9.1% (Graph 2).Graph 1Real Retail SalesGraph 2Real Retail Sales – 12-month ratesThe biggest disappointment was supermarket sales, which continued to fall (Graph 3). In the first four months of the year, they only grew in January (+1.2%...

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