RIO DE JANEIRO, Sept 11 (Reuters) - Retail sales volumes in Brazil dropped 1.1 percent in July from June, government statistics agency IBGE said on Thursday.
Retail sales had been expected to rise 0.5 percent, according to the median estimate of 26 economists polled by Reuters. Forecasts ranged from a decline of 0.6 percent to an increase of 1.3 percent.
July’s retail sales fell 0.9 percent from the year-earlier period, the IBGE added, missing expectations for an increase of 1.9 percent, according to the Reuters poll. (Reporting by Rodrigo Viga Gaier and Felipe Pontes; Writing by Silvio Cascione Editing by W Simon)