By Ovunc Kutlu
ISTANBUL (AA) – Retail sales in Brazil rose 0.6% in September compared to the previous month, beating market expectations, according to official data released Wednesday.
The market estimate for the figure was to show no change, following a 0.1% decline in August.
Annually, retail sales jumped 3.3% in September compared to the same month of last year, also beating market estimates, according to the Brazilian Institute of Geography and Statistics (IBGE).
The market expectation for the figure was to show an annual increase of 2.5%.
Retail sales increased 2.4% in August on an annual basis.