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Financial News: BRAZIL: Retail Sales Post Surprise Increase In April

BRAZIL: Retail Sales Post Surprise Increase In April From A Year Earlier

06/13/2018 - 15:45:00 (RTTNews)

(RTTNews) - Retail sales in Brazil posted an unexpected 0.60% increase in April from a year earlier, in spite of the negative influence of an early Easter Holiday this year, according to the national statistics office (IBGE). Analysts expected retail sales to decrease by 0.35%. The headline number excludes sales of vehicles and building materials.

On a monthly comparison, retail sales in Brazil rose 1.0%, beating market estimates of a 0.5% increase. According to Isabella Nunes, who manages the retail sales survey at IBGE, the data confirm that the recovery trend has intensified in April. However, there is still a long way until retailers can reach a pre-crisis sales level.

"Even with the improvement seen in 2018, sales are still 6% below the October 2014 level - the highest in the time series," she added.

Retail sales including vehicles and building materials rose 1.3% in April compared to March and 8.6% from a year before.

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