Brazil Retail Sales Fall Most Since 2008 as Shoppers Pinched
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Brazil’s retail sales fell in May by the most in more than three years, as indebted consumers failed to respond to government measures to spur demand. Yields on interest-rate futures fell.
The volume of sales declined 0.8 percent, down from a revised 0.7 percent increase in April, the national statistics agency said today in Rio de Janeiro. The fall was the biggest since November 2008 and surprised all 38 economists surveyed by Bloomberg, whose median estimate was for a rise of 0.6 percent.