RIO DE JANEIRO, Oct 15 (Reuters) - Retail sales in Brazil rose a larger-than-expected 1.1 percent in August from July , government statistics agency IBGE said on Wednesday.
Retail sales had been expected to rise 0.75 percent, according to the median estimate of 28 economists polled by Reuters. Forecasts ranged from a decline of 0.3 percent to an increase of 2.3 percent.
August’s sales fell 1.1 percent from the year-earlier period , the IBGE added, in line with market forecasts. (Reporting by Rodrigo Viga Gaier and Felipe Pontes; Writing by Silvio Cascione Editing by W Simon)