Brazilian retail sales showed a strong deceleration in July, growing only 0.7% compared to the same period last year, discounting inflation, according to the ICVA (Cielo Retail Expanded Index), released this Monday (15) .
After soaring 20.5% in April, sales were slowing, with increases of 6.9% in May and 5.9% in June. Even so, last month’s performance represented the ninth in a row with positive sales performance.
According to Cielo, calendar effects hampered the result because there was one more Sunday and one less Thursday, a date when trade is more heated, than in July 2021. Excluding this effect, there was a rise of 2 ,1%.
In nominal terms, which mirror the sales revenue observed by the retailer, ICVA increased by 15.3%. Without considering the calendar effect, these sales increased 16.9%.
According to Diego Adorno, Data Products Manager at Cielo, the effects of the comparison base with the most critical period of the Covid-19 pandemic on nominal results have been increasingly smaller.
He also highlighted that the segments more linked to the vacation period, such as Tourism and Transport, made an important contribution to the growth of retail.
The ICVA is calculated from 1.1 million retailers in the country accredited to the company and distributed across 18 sectors.
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