22
ISTANBUL
Retail sales in Brazil jumped 5.1% annually in August, according to data released Thursday by the Brazilian Institute of Geography and Statistics (IBGE).
The figure was much higher than expectations of a 3.6% gain.
The annual figure for July, meanwhile, showed an increase of 4.6%.
Retail sales, however, posted a monthly decline of 0.3% in August, the IBGE said in a statement.
The estimate for the monthly figure was to show a 0.5% decrease, after rising 0.6% month-on-month in July.
