Brazilian Retail Sales Surge Past Forecasts with 0.5% Monthly Growth in October
Brazilian retail sales rose 0.5% month-over-month and 1.1% year-over-year in October, defying Reuters consensus forecasts that predicted declines in both measures.
Brazilian retail sales delivered a positive surprise in October, advancing 0.5% compared to the previous month and climbing 1.1% year-over-year, according to data released Thursday by the Brazilian Institute of Geography and Statistics (IBGE). The results marked a significant departure from market expectations, with a Reuters poll of analysts forecasting a 0.10% monthly decline and a 0.20% annual contraction.
