Brazil's retail sales rise 2.5% in January, higher than estimates

By Ovunc Kutlu

ISTANBUL (AA) - Retail sales in Brazil increased 2.5% in January, compared to the previous month, rising much more than estimates, according to data released Thursday.

The expectation for the figure was to show an increase of 0.2% in January on a monthly basis, following a 1.3% decrease in December.

Annually, retail sales rose 4.1% in January, compared to the same month in 2023, also coming much higher than estimates, figures released by the Brazilian Institute of Geography and Statistics (IBGE) showed.

The expectation for the figure was to show an annual increase of 1.3%.

Retail sales increased 1.3% in December 2023 year-on-year.