Brazilian retail sales declined 0.2% in February against the previous month, braking a series of recent advances, the Brazilian Census Bureau (IBGE) said Thursday. Sales were up 1.3% against February of 2017. IBGE economists called the decline temporary, saying it was due to the sluggish pace of job creation in the economy. The decline mostly affected working class families. Supermarket sales were off 1.5% month-over-month, while big-ticket items rose. Home appliances were up 1.5% against January while personal computers and related equipment posted a gain of 2.7%. Big ticket items have been favored by sharp declines in interest rates. Economists predicted a rebound in retail sales in the months ahead, with sales increasing at a moderate pace.
Link to IBGE releaseMore Testimonials