Brazilian retail sales rose less than expected in November as fuel sales slipped...
RIO DE JANEIRO/SAO PAULO - Brazilian retail sales rose less than expected in November as fuel sales slipped, adding to signs of a fragile recovery that has some expecting another interest rate cut next month.
Interest rate futures fell across the board in early trading, and Brazil’s currency slipped to its weakest levels in more than a month, as the disappointing data reinforced bets that the central bank could extend a string of rate cuts. BRBY “The fastest-growing sectors in November were the most sensitive to Black Friday, including furniture, electronics and home appliances as well as cosmetics,” said IBGE research manager Isabella Nunes. “If it weren’t for Black Friday, the result could have been negative.”
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