In June, Brazil experienced its first decline in retail sales in six months, according to data released by the Brazilian Institute of Geography and Statistics (IBGE) on Wednesday.
Retail sales fell by 1.0% month-over-month in June, a reversal from the 0.9% increase observed in May. A significant factor in the overall decline was a 2.7% drop in sales within supermarkets and hypermarkets.
Sales volume for fabrics, clothing, and footwear decreased by 0.9% on a monthly basis in June. Conversely, the sales of office, IT, and communication equipment and materials saw an uptick of 1.2%.
When considering the broader retail trade sector, which encompasses vehicles, motorcycles, parts and pieces, construction materials, and wholesale of food products, beverages, and tobacco, sales volumes increased by 0.4% compared to the previous month.
Annually, the growth rate of retail sales slowed to 4.0% in June, down from 7.8% in May.
