Brazil Retail Sales Fall 0.8% in July, Missing Forecasts

Brazilian retail sales weakened more than expected in July, adding to signs of softer consumer demand in Latin America’s largest economy.

Retail sales fell 0.8% month over month, compared with expectations for a 0.2% decline and following a 0.3% increase previously. On an annual basis, sales rose just 1.2%, well below the 2.2% forecast and slowing from 2.8%