Brazil Posts Worst July Retail Sales Performance in 15 Years
- Sales fall more than economists polled by Bloomberg forecast
- Confidence rebound yet to translate into consumption recovery
The Slow Unraveling of Brazil, Explained in Two Minutes
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Brazil’s retail sales fell more than expected by analysts in July, marking the worst performance for that month in 15 years, as rising unemployment takes its toll on Latin America’s largest economy.
Sales fell 0.3 percent after a revised 0.3 percent increase in June, the national statistics agency said Tuesday. The result was slightly worse than the median forecast from economists for a 0.2 percent decline. Sales fell 5.3 percent versus the same month in 2015, the worst July since the series began in 2001.