Brazil Retail Sales Rise For Third Month

Brazil’s retail sales increased for the third successive month in October, and at a faster-than-expected pace, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.

Retails sales climbed a seasonally-adjusted 0.4 percent month-on-month in October, slower than the 1.2 percent rise in September. Economists had forecast sales to increase by 0.3 percent.

Sales of furniture and household appliances grew the most by 2.5 percent over the month, and those of office equipment and supplies, IT, and communication gained 2.0 percent.

On a yearly basis, retail sales growth eased to 2.7 percent in October from 3.2 percent in the previous month.