Brazil December Retail Sales Dip for First Time in 10 Months
February 13, 2014 by Avila Capital Markets, Inc.
Brazil’s December retail sales declined for the first time in 10 months, surprising economists, as the central bank continues to boost interest rates to tame above-target inflation.
Sales fell 0.2 percent from the previous month, after rising a revised 0.6 percent in November, the national statistics agency said today in Rio de Janeiro. The number was below the median estimate from 36 economists surveyed by Bloomberg, who predicted a 0.3 percent increase. Retail sales rose 4 percent from the same month last year, below the median forecast of 5 percent.
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