Retail sales in Brazil grow 5.2 pct, highest rate ever for July

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RIO DE JANEIRO, Sept. 10 (Xinhua) -- Brazil's retail sales, one of the engines of the country's economy, grew by 5.2 percent in July compared to June, marking a record high for the month and the third consecutive month of growth, the Brazilian Institute of Geography and Statistics (IBGE) said on Thursday.

Compared to July last year, retail sales grew 5.5 percent, while over the last 12 months ending in July, they saw a slight increase of 0.2 percent.

"It is the highest result for the month of July since records were begun in 2000 and the year's third increase in a row, with some categories showing better results than during the pre-pandemic period," said the agency.

Between June and July of this year, sales increased in seven of eight categories, led by books, newspapers, magazines and stationery, with growth of 26.1 percent.

However, despite the indicator's rebound in recent months, the retail sector has registered an accumulated contraction of 1.8 percent so far this year, according to the IBGE report.

Economic activity in Brazil tanked a record 9.7 percent in the second quarter of 2020, battered by the COVID-19 pandemic. Enditem

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