FX.co ★ Brazil Retail Sales Rise 0.9%, Less Than Expected

In April, Brazil experienced a fourth consecutive month of retail sales growth, as reported by the Brazilian Institute of Geography and Statistics (IBGE) on Thursday.

Retail sales saw a 0.9 percent increase from the previous month, exceeding the 0.3 percent rise recorded in March. However, this growth fell short of economists' predictions, which had anticipated a 1.3 percent uptick.

The sales volume for office, IT, and communication equipment and supplies surged by 14.2 percent month-on-month in April. Likewise, sales of fuels and lubricants increased by 2.2 percent.

In the broader category of extended retail trade—which includes vehicles, motorcycles, parts and accessories, construction materials, and the wholesale of food products, beverages, and tobacco—the sales volume declined by 1.0 percent compared to the previous month.

Yearly retail sales growth slowed significantly to 2.2 percent from the 5.7 percent reported in the same period last year. Analysts had expected a 3.4 percent increase.