UPDATE 1-Brazil retail sales fall in August - IBGE

  • 10/6/2021
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(Adds details from IBGE statement) Oct 6 (Reuters) - Brazilian retail sales fell in August from the previous month and compared to a year ago, as Latin America’s largest economy struggles to recover from the effects of the COVID-19 pandemic, according to IBGE, the government’s official statistics agency. IBGE said on Wednesday that Brazilian retail sales fell by 3.1% in that month from July, and by 4.1% in an annual comparison. The slump comes as a surprise, as analysts in a Reuters poll had predicted a 0.7% monthly increase in retail sales for August, and a 2% rise in sales from the same month a year ago. IBGE said sales of furniture and home appliances fell by almost 20% in August from the same month last year, weighing on the indicator. The agency also said Brazilians are buying less food and beverages, noting supermarket sales fell by 4.6% in August from the same year ago month. Reporting by Camila Moreira and Ana Mano; editing by Philippa Fletcher Our Standards: The Thomson Reuters Trust Principles.

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