Brazil Retail Sales Fall 0.1%

(RTTNews) - Brazil's retail sales decreased unexpectedly at the end of the year, though slightly, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.

Retail sales dropped 0.1 percent month-on-month in December, following a 0.2 percent fall in November. Meanwhile, economists had expected stagnant change for the month.

Sales of office, IT, and communication equipment and supplies showed a decline of 5.0 percent over the month, and those of pharmaceutical, medical, orthopedic, and perfumery articles slid by 3.3 percent.

On the other hand, sales of books, newspapers, magazines, and stationery items rebounded 0.8 percent.

Considering extended retail trade, which includes vehicles, motorcycles, parts and pieces, construction materials, and wholesale of food products, beverages, and tobacco, sales volume contracted by 1.1 percent compared to the prior month.

On a yearly basis, retail sales growth eased to 2.0 percent in December from 5.2 percent in the previous month. The expected increase was 3.5 percent.

During the year 2024, total retail sales grew 4.7 percent compared to 2023, the highest growth since 2012, when sales had risen 8.4 percent.