Brazil's retail sales rise 2.2% in April, less than estimates

Brazil's retail sales rise 2.2% in April, less than estimates

Expectation for figure was to show annual increase of 3.4%

By Ovunc Kutlu

ISTANBUL (AA) - Retail sales in Brazil rose 2.2% in April on an annual basis, up much less than estimates, according to data released Thursday.

The market expectation for the figure was to show an annual increase of 3.4%.

The figure for March was unrevised for a gain of 5.7%.

On a monthly basis, retail sales rose 0.9% in April, compared to March, according to the Brazilian Institute of Geography and Statistics.

The expectation for the figure was to show a monthly increase of 1.3%.

The figure for March, meanwhile, was revised upward to a gain of 0.3% from no change.

With the new figures, retail sales in South America's biggest economy have been rising for four months in a row, according to the institute.

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