Brazil Retail Sales Slip Demonstrates Frailty Of Recovery

Source: Reuters, Wednesday, Oct 11, 2017

August saw Brazilian retail sales fall for the first time in four months. Sales volumes inched down 0.5% in August from the previous month after seasonal adjustments, government statistics agency IBGE revealed. While July sales did not go into negative territory, they were below expectations, leading many to surmise that recovery in Latin America’s biggest market is weaker than hoped. IBGE stated that, of the eight categories it tracks, only furniture and appliances showed any growth.