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Brazil August Retail Sales Rise More Than Economist Forecast

Brazil’s August retail sales rose more than economists forecast for a second consecutive month, increasing the probability the central bank will maintain its pace of rate increases.

Sales in August increased 0.9 percent from the previous month, after jumping a revised 2.1 percent in July, the national statistics agency said today in Rio de Janeiro. The number was higher than the 0.2 median estimate from 33 economists surveyed by Bloomberg. Retail sales rose 6.2 percent from the same month last year, above the median forecast of 4.8 percent.