In the seasonally-adjusted series, volume of sales of the retail trade changed -0.9% in August over July and nominal revenue, -0.2%. In relation to August 2014, volume of sales of the retail trade declined 6.9%, registering cumulative drops of 3.0% in the year and of 1.5% in the last 12 months. Nominal revenue changed 1.1%, recording cumulative highs of 3.7% in the year and of 4.9% in the last 12 months.

In the seasonally-adjusted series, the extended retail trade - which includes retail and the activities of vehicles, motorcycles, parts and pieces and construction material - changed -2.0% over July in terms of volume of sales and -0.9% in terms of nominal revenue. In relation to August 2014, volume of sales of the extended retail declined 9.6% and nominal revenue dropped 2.5%. The cumulative rates were -6.9% in the year and -5.2% in the last 12 months for volume of sales, and -0.6% and 0.8% for nominal revenue, respectively. The complete publication of the survey can be accessed here.

Retail trade changed -0.9% in volume of sales and -0.2% in nominal revenue in August 2015, both against the immediately previous month. Volume of sales registered the seventh negative figure in a row, recording a loss of 6.4% in this period. As a result, the quarterly moving average of volume of sales (-1.1%) remained in a downward trend since December 2014, whereas that of nominal revenue remained stable (0.0%). 

In relation to August 2014, the retail trade retreated 6.9%, the fifth consecutive negative rate in this comparison. As a result, volume of sales posted a cumulative reduction of 3.0% in the year and a decline of 1.5 in the last 12 months, maintaining the downward trend started in July 2014 and registering a more intense loss than those recorded in the three previous months: May (-0.5%), June (-0.8%) and July (-1.0%). As to nominal revenue of sales, the changes were 1.1% against August 2014, 3.7% in the cumulative rate in the year and 4.9% in the last 12 months.

Concerning the extended retail trade, which includes the retail and the activities of Vehicles, motorcycles, parts and pieces  and of Construction material, the change in relation to July 2015 stood at -2.0% for volume of sales and at -0.9% for nominal revenue, both in the seasonally-adjusted series. Volume of sales of the extended retail dropped once again, after changing positively (0.5%) last month.

In relation to August 2014, volume of sales of the extended retail declined 9.6% and nominal revenue dropped 2.5%. The cumulative rates were -6.9% in the year and -5.2% in the last 12 months for volume of sales, and -0.6% and 0.8% for nominal revenue, respectively.

In August, six of eight retail sectors dropped in terms of volume of sales

Between July and August, the reduction of 0.9% in volume of sales in the retail and of -2.0% in the extended retail registered a prevalence of negative figures among the activities. The figures were as follows, in order of magnitude of rates: Vehicles and motorcycles, parts and pieces (-5.2%); Books, newspapers, magazines and stationery (-2.6%); Construction material (-2.3%); Furniture and household appliances (-2.0%); Fabric, apparel and footwear (-1.7%); Fuels and lubricants (-1.3%); Other personal and household articles (-0.2%); Hypermarkets, supermarkets, food products, beverages and tobacco (-0.1%). Pharmaceuticals, medical and orthopedic articles, toiletries and cosmetics (0.6%) and Office, computer and communication material and equipment (1.0%) increased over July.

The segment of Fuels and lubricants (-7.2%) exerted the fourth highest impact on the overall retail figure. The cumulative rates were -3.9% in the year and
-1.9% in the last 12 months. The increase of prices above the average - 11.1% for fuels item against 9.5% for the overall index, in the last 12 months, according to the IPCA - contributed to these figures, as well as the reduced pace of the economic activity.

The activity of Other articles of personal and domestic use, which encompasses department stores, glasses shops, jewelry shops, sporting goods stores and toy stores, etc., was the fifth negative contributor to the retail rate, with a change of -2.9% in the volume of sales in relation to the same period in 2014, registering the second negative figure in 2015. In cumulative terms, the rates remained on the positive side: 2.6% in the first eight months of the year and 4.4% in the last 12 months.

Having changed -15.6% in terms of volume of sales over August 2014, the activity of Books, newspapers, magazines and stationery was responsible for the sixth negative contribution to the overall retail figure.  In terms of cumulative rates, the changes in the eight months of the year and in the last 12 months were -9.2% and -9.3%, respectively. The declining path of this activity, particularly for books and newspapers, was being influenced by the shift from graphical to digital. 

Responsible for the seventh negative contribution to the overall rate, the segment of Office, computer and communication material and equipment changed -7.1% over the same month a year ago, registering the second consecutive decline in the year. The appreciation of the US dollar against the real and the credit restriction were among the factors that had been influencing the negative performance in the last two months. The cumulative rates remained positive: 5.9% in the year and 4.7% in the last 12 months.

On the other hand, the only positive impact on the overall retail trade rate came from Pharmaceuticals, medical and orthopedic articles and toiletries (1.1%), which recorded cumulative rates of 4.2% in the year and of 5.6% in the last 12 months. The behavior of the prices of pharmaceuticals, which rose 6.7% in 12 months against 9.5% of the overall index, according to the IPCA, coupled with the essential nature of the products traded, were the main factors that explained the positive performance of this segment.

In the seasonally-adjusted series, the extended retail trade - which includes retail and the activities of Vehicles, motorcycles, parts and pieces and of Construction material - changed -2.0% over July in terms of volume of sales. In relation to August 2014, the rate was
-9.6%. Also in the seasonally-adjusted series, the performance of this sector reflected, above all, the behavior of sales of Vehicles, motorcycles, parts and pieces, which posted a rate of -5.2% over July 2015 and a drop of 15.7% in relation to August 2014. The cumulative rates were -15.4% in the year and -12.9% in the last 12 months.

Concerning the activity of Construction material, the changes for volume of sales were -2.3% over the previous month (seasonally adjusted) and -9.1% in relation to August 2014.  In cumulative terms, the rates were: -5.6% in eight months and -3.8% in the last 12 months.  The reduced pace of the economic activity and the restriction to credit operations were the factors that accounted for the reduced volume of sales.

In relation to July, retail declines in 26 of 27 Federation Units

In the seasonally-adjusted series of the retail trade, 23 out of the 27 Federation Units registered negative changes for volume of sales over the immediately previous month. In terms of the magnitude of the drop, the highlights were: Paraíba (-4.9%); Tocantins (-4.4%) and Alagoas (-3,3%). Amazonas remained stable in this type of comparison, whereas Ceará (0.2%), Mato Grosso do Sul and Acre, both with 0.4%, remained on the positive side.

In relation to August 2014, the reduced volume of sales in the retail spread along 26 out of the 27 Federation Units. In terms of the magnitude of the two-digit rate, the highlights were: Amapá (-17.6%), Alagoas (-14.8%), Paraíba (-12.9%), Bahia
(-12.2%), Rondônia (-11.8%), Pernambuco and Goiás, both with -10.3%. As to the participation in the formation of the overall rate of the retail trade, the highlights were:  São Paulo
(-6.8%), Rio de Janeiro (-5.7%), Rio Grande do Sul (-9.4%) and Bahia (-12.2%).

In the Extended Retail Trade, all the 27 states recorded negative changes for volume of sales when compared with the same period last year. The following states stood out in terms of influence to the overall figure: São Paulo (-4.8%), Minas Gerais (-13%), Rio de Janeiro (-8.7%) and Rio Grande do Sul (-15.1%).

In summary, the volume of sales in the retail continued to report a lower pace in August 2015, expressed not only by the seventh consecutive month of negative figures compared with the immediately previous month, as well as by the widespread profile of negative rates among the major segments. Considering the August´s figure, the total volume of sales was 9.7% below the record level reached in November 2014. The lower intensity of the retail sales was also evident when compared with the same month last year, a loss of -6.9% and the fifth negative rate in a row. Having declined 1.5%, the cumulative indicator in the last 12 months maintained the downward path started in July 2014, when this index was at 4.3%.

The loss of dynamism in 2015 was also evident in the four-month analysis: the retail sales declined 4.5% in the May-August 2015 period, improving the pace of drop in relation to the first four months of the year (-1.4%), both of them compared with the same periods in the previous year. Such movement was widespread, followed by all the activities that comprise the retail trade. Having recorded rates of -8.8% in the first four-month period of the year and of -16.0% in the next period, Furniture and household appliances was the sector that posted the most intense rates.

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[1] According to the Monthly Employment Survey, the usual real wage bill of employed persons changed from 2.4% in August 2014 to -5.4% in August 2015, in relation to the same month in the previous year.

[2] Monetary Policy and credit operation of the National Financial System - Central Bank Bulletin