Retail Sales In Brazil Expand 0.7%, More Than Forecast

(RTTNews) - Brazil's retail sales increased for the second straight month in July, and at a faster-than-expected pace, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Friday.

Retail sales rose 0.7 percent month-over-month in July, after a 0.1 percent slight recovery in June. Economists had expected a 0.3 percent gain for the month.

Sales of equipment, materials for the office, and IT and communication grew the most by 11.7 percent over the month, while those for fabrics, clothing, and shoes dropped by 2.7 percent.

On a yearly basis, retail sales advanced 2.4 percent in July versus a 1.4 percent increase in the prior month.