Brazil retail sales rise 0.5% in June, beating 0.3% forecast

Brazil's retail sales rose 0.5% month-on-month in June, beating forecasts for a 0.3% gain and following a 0.3% increase in May, IBGE data showed. Four of eight sectors posted growth, led by other personal and household goods, hypermarkets and supermarkets, furniture and household appliances, and pharmaceutical and perfumery products. Four sectors declined, with the sharpest falls in books, newspapers and stationery, textiles, clothing and footwear, fuels and lubricants, and office, IT and communication equipment. Sales increased in 19 of Brazil's 27 states, led by Amazonas, Espírito Santo and Roraima. Expanded retail sales, a broader measure of consumer activity, fell 1.0% after a 0.3% drop in May, pointing to a mixed picture for domestic demand even as core retail activity outperformed expectations.

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