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Financial News: BRAZIL: Retail Sales Fall More Than Expected In

BRAZIL: Retail Sales Fall More Than Expected In December

02/09/2018 - 15:59:00 (RTTNews)

(RTTNews) - Retail sales in Brazil decreased by 1.5% in December from November, said the country's statistics office. The results, which exclude sales of vehicles and construction materials, were worse than the 0.5% decrease expected by analysts polled by Agência CMA.

On an annual basis, retail sales grew for the ninth consecutive month in December, at a 3.3% rate, also below expectations of a 4.5% rise.

As a result, retail sales close 2017 with a 2% increase, the best performance since 2014. In the last quarter of 2017, there was a 3.9% over the previous year. Private consumption in Brazil represents around 60% of the country's Gross Domestic Product (GDP).

Compared to November, six out of the eight retail sectors surveyed posted lower sales in December, highlighting articles of personal and domestic use (-6.3%), books, newspapers, and stationery (-4.0%) and hypermarkets, supermarkets, food products, beverages and tobacco (-3.0%).

At the opposite end, there was an advance in pharmaceutical, medical, orthopedic, perfumery and cosmetics (+ 1.2%) and fabrics, clothing, and footwear (+ 0.5%).

Annually, four of the eight sectors posted higher sales, with hypermarkets, supermarkets, food products, beverages and tobacco (+ 4.5%) and fabrics, clothing, and footwear (+7.0%). On the low side, fuel and lubricants (-7.2%) and equipment and supplies for office, computer, and communication (-18.2%) fell the most.

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