FX.co ★ Brazil Retail Sales Fall More Than Expected

Brazil's retail sales decreased for the second straight month in June, and at a faster-than-expected pace, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Wednesday.

Retails sales dropped a seasonally-adjusted 1.4 percent month-on-month in June, following a 0.4 percent decrease in May. Economists had forecast sales to fall by 1.0 percent.

Sales of fabrics, clothing and shoes declined 5.4 percent and those of vehicles and motorcycles, parts and pieces slid 4.1 percent.

On a yearly basis, retail sales decreased 0.3 percent in June, after a 0.2 percent fall in the prior month. Meanwhile, sales were expected to remain flat.