The month of June signaled a significant growth in services provided to families and a slight contraction in retail, according to data from IGet, Santander indicator, carried out in partnership with Getnet, that monitors the performance of Brazilian retail trade.The study indicates a slowdown in economic activity in the second quarter of this year and a recovery in the economic indicators of Rio Grande do Sul,that suffered heavy losses in May due to the floods
The June results of IGet show an increase of 2,8% per month in the services index, maintaining the upward trend observed in the previous month, when he/she/it rose 3,0%. Despite the continuous monthly growth, the year-on-year performance showed a decrease of 1,3%, a deceleration compared to the annual increase of 3,2% registered in May
The data from June reveals a mixed dynamic in the different service segments.Accommodation and meals, for example, registered an increase of 2,4% marking the second consecutive expansion, after an increase of 2,8% in May. On the other hand, the segment of other services that include leisure activities, cultural, beauty salon, gymnasium, education, among others, showed a decrease of 0,8% in June, a second consecutive decline, after a decrease of 2,3% in May
The services provided to families showed a new acceleration in the second quarter of 2024. This growth is perceived after a start to the year marked by large variations, which included a sharp drop in January followed by relative stability until April
Rio Grande do Sul
IGet analyzed the retail performance in Rio Grande do Sul, after the flood period, to assess the economic impact that the state had. The closed data from June shows a partial recovery of the declines recorded in May
In the service sector, the IGet pointed out in RS a contraction of – 11,7% compared to June 2023, a level close to that observed in April of this year, before the floods. In expanded retail, there was an increase of 9,2%, in June, in relation to the same period last year, signaling a significant recovery
Fall in retail
In retail, the data from June shows a drop of 0,2%, following a trend observed in previous months.The restricted index, that excludes sales of construction materials and automotive parts, showed a reduction of 1,7%,what does the fifth consecutive contraction represent
The analysis of the composition of retail activity shows heterogeneous signs.In the restricted index, only the furniture and appliances sector did not register a decline in the month. There was a decrease in the supermarket segments, clothing and fuels Other personal items continued to decline, although this segment has shown high volatility in previous readings
In the expanded index, the automotive sectors, parts and pieces (+8,4%) and construction materials (+1,5%) grew, after the declines recorded in May
These indices reinforce the expectation of a gradual slowdown in economic activity in the second quarter, but also indicate a potential for recovery in the medium term, especially in regions affected by natural disasters, like Rio Grande do Sul, evaluates Fabio Coelho, Vice President of Finance at Getnet
Gabriel Couto, Santander economist responsible for IGet,states that the monthly analysis provides valuable and updated insights into the retail and services sectors in the country. O IGet uses information from transactions in the national acquiring market and aims to expand the informational set for analyzing the trajectory of economic activity in Brazil, mainly regarding the retail segments and the services provided to families. We monitor each month the revenues of a sample of establishments that use, recurringly, Getnet as a payment method. The sample contains anonymized information from establishments of different sizes and regions, being a quite representative selection of these segments in the country, пояснює виконавчий
