August 9, 2016 / 12:32 PM / 2 years ago

UPDATE 1-Brazil June retail sales beat estimates with surprise rise

(Adds poll range and context)

BRASILIA, Aug 9 (Reuters) - Retail sales volumes rose slightly in June from May, beating market expectations for a steep drop as consumers struggle with a recession that has sapped their income and made credit more expensive.

Retail sales volumes excluding cars and building materials in Brazil rose 0.1 percent in June from May (BRRSL=ECI), government statistics agency IBGE said on Tuesday.

Economists in a Reuters poll expected a decrease of 0.40 percent with forecasts ranging from a drop of 0.90 percent to an increase of 0.80 percent.

Retail sales have remained volatile this year with four monthly drops and three increases, in a sign that the sector has not stabilized yet as the recession continues to drag down consumer appetite.

Sales fell 5.3 percent from the year-earlier period , compared with expectations for a 6.35 percent drop in the Reuters poll. (Reporting by Alonso Soto; Editing by Jeffrey Benkoe)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below