Retail grows 0.7% in July; 2.2% below the peak recorded in 2020

According to data released by the Brazilian Institute of Geography and Statistics (IBGE) last Friday (15), the volume of retail sales increased by 0.7% in the month of July this year compared to the previous month. Despite the good news for the sector, growth is 2.2% below the record growth in October 2020.

If compared to the growth of July 2022, there was an increase of 2.4%, the second consecutive increase in this type of comparison. The quarterly moving average increased by 0.1%.

The accumulated result until July was 1.5% compared to the same period last year. In the last twelve months, the accumulated figure was 1.6%.

In expanded retail trade, which includes vehicles, motorcycles, parts and pieces and construction material, the volume of sales in July fell 0.3% compared to June. Compared to July 2022, expanded retail grew 6.6%.

Compared to last year, there was sales growth in eight activities: Computer and communication office equipment and material (6.9%); pharmaceutical, medical, orthopedic and perfumery articles (6.5%); furniture and household appliances (3.4%); hypermarkets, supermarkets, food products, drinks and tobacco (3.0%); and fabrics, clothing and footwear (1.6%).

The three sectors that showed a drop were books, newspapers, magazines and stationery (-7.3%); other articles for personal and domestic use (-4.9%); and fuels and lubricants (-2.8%).

The pharmaceutical, medical, orthopedic and perfumery articles sector recorded the fifth consecutive month of increase with growth of 6.5% compared to July 2022.