Brazil’s retail sales declined for the eighth straight month in September, but at a slower-than-expected pace, figures from the Statistical Office IBGE showed Thursday.
Retail sales fell a seasonally adjusted 0.5 percent month-over-month in September, following a 0.9 percent drop in the previous month. Economists had expected the same 0.9 percent fall for the month.
On annual basis, retail sales dipped 6.2 percent in September, below economists’ expectations for a 7.3 percent decrease. In August, prices had fallen 6.9 percent.
Broad retail sales, which includes sales of automobiles and construction material, slid 1.5 percent monthly in September, slower than the 2.0 percent drop in the preceding month. It was expected to fall by 2.6 percent.
Annually, the measure plunged 11.5 percent in September, faster than the 9.6 percent decline in August. However, it was slower than the 12.3 percent slump expected by economists.
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