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Financial News: Brazil Retail Sales Fall 0.6%, More Than Forecast

Brazil Retail Sales Fall 0.6%, More Than Forecast

01/11/2023 - 08:18:00 (RTTNews)

(RTTNews) - Brazil's retails sales decreased for the first time in four months in November, largely driven by a negative growth in sales of fuels and lubricants, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Wednesday.

Retails sales dropped a seasonally-adjusted 0.6 percent month-on-month in November, reversing a 0.3 percent rise in October. That was worse than the 0.3 percent fall expected by economists.

Sales of fuels and lubricants fell the most by 5.4 percent over the month, followed by office, computer and communication equipment and material sales with 3.4 percent decline.

On a yearly basis, retail sales growth eased to 1.5 percent in November from 2.7 percent in the previous month.

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