Brazil Retail Sales Unexpectedly Rise 1.2%

(RTTNews) - Brazil's retail sales expanded for the fifth straight month in May, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.

Retail sales rose 1.2 percent month-on-month in May, faster than the 0.9 percent rise in April. Meanwhile, economists had expected a 0.9 percent fall in sales.

A 0.7 percent sales growth in supermarkets and hypermarkets largely influenced the overall positive growth in May. 

The volume of sales of fabrics, clothing, and footwear grew by 2.0 percent monthly in May, while those of office, IT, and communication equipment and materials declined by 8.5 percent.

Considering extended retail trade, which includes vehicles, motorcycles, parts and pieces, construction materials, and wholesale of food products, beverages, and tobacco, sales volume advanced by 0.8 percent compared to the prior month.

On a yearly basis, retail sales growth quickened to 8.1 percent in June from 2.1 percent in the previous month.