Brazilian retail sales retreated 3.1 percent in June, says Cielo

RIO DE JANEIRO-Brazilian retail sales fell 3,1% in June over the same month of 2015, already discounted inflation, and reached in the first half the lowest level of historical series, second index released on Friday by the company of payment systems Cielo.
Set the calendar effect, the index had 3,3% drop in June.
In June, the indicator had deflated the impact of price drop of more than 20% in airline tickets. Deleted the airline sector of the calculation, and without the calendar effects, the indicator would have fallen 3,9% in June before falling to 4,3% in May.
In the first half of the year, the index has reached the lowest level since the beginning of the historical series in 2013, with retraction of 5% compared to the previous year.
However, according to Cielo, the pace of decline slowed in the first quarter of 2016.
"The nominal index reflects this frame: was practically stable in the passage from the second half of last year to the first quarter of 2016-respectively, 3,9% and 3.8 percent," he said.