Brazilian retail sales declined in May, reflecting continued weakness in consumer demand as the economy struggled to recover from its deepest recession on record.
Sales volumes slipped 0.1% in May from April on a seasonally adjusted basis, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday.
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The decline fell short of the median estimate in a poll of economists by the local Agência Estado newswire, which called for a 0.2% rise in retail sales.
Compared with April 2016, retail sales were up 2.4%, the IBGE said.
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Compared with May 2016, retail sales were up 2.4%, the IBGE said. "Brazil Retail Sales Fell 0.1% in May--IBGE," at 8:20 a.m. ET, misstated the month in the last paragraph. (July 12, 2017)
(END) Dow Jones Newswires
July 12, 2017 08:43 ET (12:43 GMT)