Brazil’s June Retail Sales Decline for Fifth Month in a Row
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Brazil’s retail sales in June fell for the fifth straight month, as the central bank signals it will hold interest rates at a nine-year high in the face of a looming recession.
Sales dropped 0.4 percent after a 0.9 percent decline in May, the national statistics agency said in Rio de Janeiro. That was in line with the median estimate from 34 economists surveyed by Bloomberg.