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Financial News: Brazil Retail Sales Rise 0.9%, Less Than Expected

Brazil Retail Sales Rise 0.9%, Less Than Expected

06/13/2024 - 09:00:00 (RTTNews)

(RTTNews) - Brazil's retail sales expanded for the fourth straight month in April, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.

Retail sales rose 0.9 percent month-on-month in April, faster than the 0.3 percent rise in March. Meanwhile, economists had expected a 1.3 percent gain in sales.

The volume of sales of office, IT, and communication equipment and suppliesĀ surged 14.2 percent monthly in April, and those of fuels and lubricants rose by 2.2 percent.

Considering extended retail trade, which includes vehicles, motorcycles, parts and pieces, construction materials, and wholesale of food products, beverages, and tobacco, sales volume fell by 1.0 percent compared to the prior month.

On a yearly basis, retail sales growth eased notably to 2.2 percent from 5.7 percent last year. The expected increase was 3.4 percent.

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