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Financial News: Brazil Retail Sales Rise For Second Month

Brazil Retail Sales Rise For Second Month

11/09/2022 - 08:46:00 (RTTNews)

(RTTNews) - Brazil's retail sales increased for the second successive month in September, and at a faster-than-expected rate, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Wednesday.

Retails sales climbed a seasonally-adjusted 1.1 percent month-on-month in September, following a 0.1 percent slight rise in August. Economists had forecast sales to increase by 0.2 percent.

Sales of books, newspapers, magazines and stationery grew 2.5 percent over the month, and those of office equipment and supplies, IT and communication gained 1.7 percent.

On a yearly basis, retail sales moved up 3.2 percent in September, after a 1.6 percent rise in the prior month. That was also above the 1.4 percent increase expected by economists.

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