2023.10.1814:23:00UTC+00Brazil Retail Sales Fall 0.2%, Less Than Expected

Brazil's retail sales decreased slightly in August after rising in the previous two months, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Wednesday.

Retail sales dropped 0.2 percent month-on-month in August, reversing a 0.7 percent rise in July. Economists had expected a 0.7 percent decline for the month.

The volume of sales of other articles for personal and domestic use showed a decline of 4.8 percent, and those for books, newspapers, magazines, and stationary dropped 3.2 percent. Meanwhile, sales at supermarkets and hypermarkets grew by 1.1 percent.

In the expanded retail trade, which includes vehicles, motorcycles, parts and pieces, and construction material, sales volume decreased by 1.3 percent compared to the prior month.

On a yearly basis, retail sales climbed 2.3 percent in August versus a 2.4 percent gain in the prior month.The expected increase was 1.2 percent.