Reuters, 9/13/2012
Brazilian retail sales grew more than expected in July for the second straight month, data showed on Thursday, as domestic demand supported an incipient recovery in the world’s sixth largest economy.
Retail sales volumes in Brazil rose 1.4 percent in July from June, according to government statistics agency IBGE, above the median forecast of 1.0 percent growth in a Reuters poll of 26 economists.
Latin America’s biggest economy has relied on its vast consumer market to avoid a recession over the past year. Low unemployment and government tax breaks have also boosted sales of automobiles and home appliances in the past few months.
