Black Friday Fuels Surprise Surge in Brazilian Retail Sales
- November sales rose 1.5% on gains in furniture and applicances
- Median forecast of analysts was 0.8% monthly decline
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Brazil’s retail sales rose in November as shoppers took advantage of holiday specials, surprising analysts who forecast a decline while offering a rare reason to celebrate in an otherwise battered economy.
Sales surged 1.5 percent from the prior month, the biggest gain in a year, the national statistics agency said Wednesday. That compares with analyst estimates for a 0.8 percent decline following a revised increase of 0.5 percent in October.