BRAZIL: Retail Sales Remain Stable In July Compared To June

(RTTNews) - Retail sales in Brazil remained stable in July compared to June but rose 3.1% from July 2016 - the fourth consecutive increase in annual terms, the country's statistic office said on Tuesday.

Analysts expected a slightly higher growth rate both in monthly (+0.05%) and annual (+3.15%) comparisons. Private consumption in Brazil represents approximately 60% of the country's Gross Domestic Product (GDP).

Compared to June, three of the eight retail sectors posted higher sales, with the office supplies sales rising the most (4.4%), while fuel and lubricants had the worst performance (-1,6%).

Annually, seven of the eight sectors posted higher sales, with clothing posting the best results (15.5%).

Year-to-date, retail sales in Brazil are 0.3% higher compared to the same period a year before.