September 22, 2021

The Catholic Transcript

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Retail sales fell 1.7% in June compared to May after two months of rise, a much worse result than expected

Retail sales fell 1.7% in June compared to May after two months of rise, a much worse result than expected

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Retail sales fell 1.7% in June compared to May 2021, said Wednesday (11) from the Brazilian Institute of Geography and Statistics (IBGE).

It was the biggest drop in the sector this year and the second biggest for June since the monthly business survey (PMC) began in 2000. As a result of June, retail trade is up 2.6% from the previous level. . In the first half, the sector’s backlog rate was 6.7% and in the past 12 months 5.9%.

The result was much worse than expected. According to the Refinitiv consensus, sales were expected to increase 0.7% in June compared to May and 9.1% compared to July 2020.

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