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Brazil’s June Retail Sales Increase 1.5%, Most Since January

Brazil’s retail sales unexpectedly jumped in June, as an increase in furniture and appliance purchases signaled that interest-rate and tax cuts may be spurring demand. Swap rates rose.

The volume of sales climbed 1.5 percent, compared with a drop of 0.8 percent in May and the biggest rise since a 3.2 percent jump in January, the national statistics agency said today in Rio de Janeiro. The median forecast of 38 analysts surveyed by Bloomberg was for a 0.3 percent decline. Annual sales jumped 9.5 percent.