Retail sales in Brazil increased by 2.7 per cent year-on-year (YoY) in October 2022 for the third successive month—higher than the earlier projection of 2.3 per cent YoY growth. The country’s retail sales volume surged by 0.4 per cent month-on-month (MoM), as per recent data.
Brazil’s retail sales volume had shot 3.2 per cent YoY in September 2022, according to figures released by the Brazilian Institute of Geography and Statistics (IBGE). The forecast for October had been 0.2 per cent MoM after retail sales rose 1.2 per cent MoM in September 2022.
Moreover, five of eight segments in Brazil’s retail sector showed profits during the period. Retail trade for the textiles, clothing, and footwear sector contracted by 3.4 per cent in October 2022, which was a drop of 14.8 per cent compared to October 2021.
Retail sales in Brazil increased by 2.7 per cent YoY in October 2022 for the third successive month—higher than the earlier projection of 2.3 per cent YoY growth. The country's retail sales volume surged by 0.4 per cent MoM, as per recent data. Brazil's retail sales volume had shot 3.2 per cent YoY in September 2022, according to figures released by IBGE.
Fibre2Fashion News Desk (NB)
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