Retail sales increased by 0.4% in June compared to May, according to Serasa Experian’s Trade Activity Indicator. It is the 2nd positive result of the year, which recorded negative performances from January to April.
The sector that grew the most in June was “Vehicles, Motorcycles and Parts”, which marked an increase of 5.4%. Next, the “Fabrics, Clothing, Footwear and Accessories”, with growth of 2.5%. The only sector that registered a decline was that of “Construction material”.
Compared to the same period in 2022, trade activity increased by 2.6%. The sector of “Furniture, Household Appliances, Electronics and IT” had the greatest expansion, with 8.8%. next is “Fuels and lubricants”which grew by 5.9%.
“Consumer purchasing power is still impacted by inflation and high interest rates. In addition, part of the population is in default. Without a more consistent improvement in consumer income, retail increases should remain timid”says Serasa Experian economist Luiz Rabi.
Methodology
In a note, Serasa Experian explains that “The Serasa Experian Commerce Activity Indicator is built exclusively on the volume of monthly inquiries made by around 6,000 commercial establishments to the Serasa Experian database. Queries are treated statistically using the trimmed-mean method, with a 20% cut at the upper and lower ends of the monthly growth rates for each commercial establishment within each of the six retail segments surveyed. For the formation of the aggregate series of the Serasa Experian Indicator of Commerce Activity, the growth rates resulting from each retail segment are weighted by the relative weight of each one of them in the Monthly Commerce Survey – Expanded Retail, by IBGE, respecting their methodological reviews”.
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