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Brazil Retail Sales Rebound

Brazil Retail Sales ReboundBrazil Retail Sales Rebound

Brazilian retail sales rebounded in September from an unexpected drop in the prior month as lower unemployment provided a welcome boost to consumer spending, Reuters reported. Sales volumes, excluding cars and building materials, rose 0.5% in September from August after seasonal adjustments, government statistics agency IBGE said on Tuesday. Retail sales increased 6.40% from the year before, compared to the median forecast of 5.20%. The reading exceeded economists’ median forecast of a 0.40% increase in a Reuters poll, and bucked a two-month string of underwhelming figures that had stoked concerns over Brazil’s recovery from its worst recession in a century.

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