By Ovunc Kutlu
ISTANBUL (AA) — Retail sales in Brazil declined 1% in May both annually and monthly, according to data released Friday.
The market had expected the figure to rise 2% annually but remain unchanged on a monthly basis.
In April, retail sales rose 0.5% on an annual basis, but contracted 0.1% from the previous month.
Fabrics, clothing and footwear saw the largest annual decline of 18.2% in May, according to the Brazilian Institute of Geography and Statistics (IBGE).
The same group had also posted the biggest monthly decrease in May with 3.3%, IBGE figures showed.