World Economy

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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