Data release: 08/10/2022
In June 2022, both core and broad retail sales surveys performed worse than expected by the market.
- Positive highlights: Pharmaceutical, medical, orthopedic and perfumery products displayed a growth (1.3%).
- Negative highlights: Cloths, apparel and shoes (-5.4%); Books, newspapers, magazines and paperwork (-3.8%); Equipment and material for offices, IT and communication (-1.7%); Other personal and domestic usage products (-1.3%); Fuels and oils (-1.1%); Furniture and home appliances (-0.7%); Supermarkets, food, beverage and smoking products (-0,5%).
View: the slowdown of retail was already expected by the markets. However, the outcome was surprising in the broad survey, once the Vehicles and Construction Material openings retreated 4.1% and 1% respectively.
For the next months, the sentiment surveys register a worsening in expectations, as the monetary tightening pushes a stronger effect over the production.
