Industry

Brazilian retail sales increase 5.2%, the highest in six years

Brazilian retail sales in July surged to their highest in almost six years, official figures showed, as the continued easing of lockdown measures across the country fueled another strong monthly rebound in activity. The 5.2% rise in retail sales excluding cars and building materials last month was more than four times the median forecast of a 1.2% rise in a Reuters poll of economists. On an annual basis, sales rose 5.5% in July compared with the same month last year, statistics agency IBGE said, more than double the 2.2% rise economists in the Reuters poll had expected.

Source: Reuters