10.05.202214:26:00UTC+00Brazil Retail Sales Rise More Than Expected

Brazil's retail sales rose for the third straight month in March and at a faster-than-expected pace, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Tuesday.

Retails sales climbed a seasonally-adjusted 1.0 percent month-on-month ion March, following a revised 1.3 percent increase in February. Economists had forecast only a 0.4 percent rise.

Sales of equipment and materials for office, computing and communication grew 13.9 percent compared to the previous month and those of books, newspaper and stationery items registered an increase of 2.2 percent.

On a yearly basis, retail sales rose at a faster rate of 4.0 percent in March, following a 1.3 percent gain in the prior month. That was also above the expected rate of 2.1 percent.

The expanded retail sales, which includes the sales of vehicles, motorcycles, parts and pieces and construction material, grew 0.7 percent compared to February and rose 4.5 percent from a year ago.

During the first quarter of this year, retail trade increased 1.6 percent as compared to the previous three-month period. Expanded retail sales rose 1.1 percent.