Economy

Brazilian retail sales fell 7.9% in September

It is a reduction in the drop, since in April, at the worst moment of the pandemic, real and nominal sales fell by 36.5% and 35.4%, respectively

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  • The decline slowed for the fifth straight month;
  • In August, the drop in real sales was 15.1% and in nominal sales, 12.6%.

Brazilian retail sales fell 7.9% in September compared to the same period last year, discounting inflation, according to the Cielo’s Retail Index, which tracks monthly sales by 1.5 million retailers accredited to the payment solutions’ firm.

In nominal terms, which reflect the sales revenue observed by the retailer, the fall was 3.5%, according to data released by Cielo on Friday.

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Despite the negative result, as the sector continues to suffer from the effects of the COVID-19 pandemic, the decline has slowed for the fifth straight month. In August, the drop in real sales was 15.1% and in nominal sales, 12.6%. In April, at the worst pandemic moment, they fell by 36.5% and 35.4%, respectively.

“This recovery is felt in all sectors, although some of them, especially those related to services, are still at a level below 2019”, said the executive superintendent of Big Data at Cielo, Gabriel Mariotto.

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“If we did not take into account the service sectors such as tourism, food, among others, the nominal index would already be above zero in September,” he added.

(Translated by LABS)