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Brazil Retail Sales Disappoint as Impeachment Process Advances

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Brazil Markets Watch and Wait for Rousseff Fallout

Brazil’s retail sales fell more than analysts expected in March, underscoring the economic challenges Vice President Michel Temer will have to face if he takes over the nation’s top job following an impeachment vote later on Wednesday.

Sales contracted 0.9 percent in March after a revised 1.1 percent jump the prior month, the national statistics agency said Wednesday. That was worse than the median estimate from 38 economists surveyed by Bloomberg, who forecast a 0.6 percent fall. Sales plunged 5.7 percent in March versus the same month in 2015.