By Ovunc Kutlu
ISTANBUL (AA) - Retail sales in Brazil rose 2.7% annually in October, posting a gain for the third consecutive month, according to data released Thursday.
The figure was much higher than expectations, which was to show an annual gain of 2.3%, after it increased 3.2% in September, year-on-year.
Five of the eight sectors in the retail sector posted gains, led by furniture and household appliances with a 2.5% gain, and followed by office and communication equipment and supplies, adding 2%, the Brazilian Institute of Geography and Statistics (IBGE) said in a statement.
On a monthly basis, retail sales volume expanded 0.4% in October.
The estimate for October was a monthly gain of 0.2% after retail sales jumped 1.2% in September from the previous month.