Brazil's Retail Sales Decline 1.4% In June

The volume of retail sales in Brazil fell by 1.4% in June, from the previous month, according to the Brazilian Institute of Geography and Statistics (IBGE) data released on Wednesday.

While market estimate for the figure was to show a monthly decline of 1%, the volume of retail sales fell by 0.4% in May.

The largest monthly decline in retail sales were seen in textiles, apparel, and footwear with 5.4%, followed by books, newspapers, and magazines with 3.8%.

On an annual basis, retail sales decreased by 0.3% in June, compared to the same month of last year, according to IBGE data.

The market expectation for retail sales was to post an annual decline of 0.1% in June, while they decreased by 0.2% in May year-on-year.

The biggest annual decline in retail sales were recorded in construction material with 11.4%. It was followed by vehicles and motorcycles parts with 7.1%. -