Brazil's retail sales fell 0.3% in August, with vehicle, furniture, and personal item sales declining, while annual growth improved to 5.1%.
Brazil's retail sales fell by 0.3% in August, following a 0.6% rise in July, primarily due to significant drops in vehicle, furniture, and personal item sales. Despite this monthly decline, annual growth improved to 5.1% from 4.6%. The decline signals a potential slowdown in Brazil's economy ahead of interest rate hikes by the Central Bank, although the drop was less than analysts' expected 0.6%.
October 10, 2024
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