2023.12.1413:38:00UTC+00Brazil Retail Sales Fall Unexpectedly In October

Brazil's retail sales decreased unexpectedly in October after rebounding in the previous month, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.

Retail sales dropped 0.3 percent month-on-month in October, reversing a 0.5 percent rise in September. Meanwhile, economists had expected a 0.2 percent increase for the month.

The volume of sales of office equipment and supplies, IT, and communication dropped 5.7 percent monthly in October, and those for fabrics, clothing, and footwear slid by 1.9 percent.

On a yearly basis, retail sales growth eased notably to 0.2 percent in October from 3.2 percent in September. The expected gain was 1.76 percent.