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Brazil Retail Sales Beat Forecasts as Omicron Wave Fades Away

  • February sales rose 1.1% on month, 1.3% on year: stats agency
  • Spending helped by government aid, fewer virus restrictions

Brazil’s retail sales rose more than forecast on gains in categories such as fuels, clothing and electronics, as cases of the omicron variant of the coronavirus plunged.

Sales rose 1.1% in February from the month prior, more than the 0.3% median estimate from analysts in a Bloomberg survey. At the same time, January’s increase was revised higher to 2.1%. From a year ago, retail rose 1.3%, the national statistics agency reported on Wednesday.