Sales of retail in Brazil recede 1% in May, says IBGEIt is the worst result for the month in the historical series.
Sales of retail in Brazil surprised and retreated in May, with the worst result for the month in the historical series, showing that the breath seen recently could not hold amid the backdrop of inflation and high unemployment and economic recession.
Retail sales fell 1 percent in May over the previous month, with falling 9,0 percent compared to the same month of 2015, said on Tuesday the Brazilian Institute of Geography and Statistics (IBGE).
Both results are the worst for May since the beginning of the IBGE series, in 2000 e, on annual basis, this is the 14th consecutive negative rate.
And worse further scenario, the high of April was revised to 0,3 Percent, from 0,5 percent previously reported.
The results were far worse than expectations in Reuters poll, in advance 0,40 percent over April and falling 6,15 percent compared to May 2015, according to the median of forecasts.
Highlights among the surveyed were, according to IBGE, falls from 2,4 percent in sales of Other articles of personal and domestic use and 1,3 percent Furniture and household appliances.
However, sales in hypermarkets, supermarkets, food products, beverages and smoke, sector with the greatest weight in the retail structure, were flat in May compared with April.
The volume of retail sales expanded –includes vehicles, construction material– reduced the pace of decline in May to 0,4 Percent, after falling 1,5 percent in April.
According to the IBGE, this result was due to the high 1 percent in the marketing of vehicles and motorcycles, parts and pieces, after two setbacks followed.