SAO PAULO, May 13 (Reuters) – Brazil’s retail sales volumes beat expectations and \u200creached a record high in \u200cMarch, data from statistics agency IBGE showed on \u200bWednesday, though high borrowing costs continue to restrain a broader recovery.<\/p>\n
\u2022 Sales rose 0.5% in March from the previous month, \u200cwhile economists polled \u2060by Reuters had expected no changes<\/p>\n
\u2022 It was the third \u2060consecutive monthly increase, with five of eight sectors posting gains<\/p>\n
\u2022 Andres Abadia, chief \u200bLatin America \u200beconomist at \u200bPantheon Macroeconomics, said the \u200crecovery remains gradual rather than broad-based<\/p>\n
\u2022 “Tight credit conditions and still-elevated interest rates continue to weigh on big-ticket purchases and cap the pace of expansion,” he \u200csaid<\/p>\n
\u2022 Brazil’s central bank \u200blast month cut its \u200bbenchmark interest \u200brate by 25 basis points \u200cfor a second straight \u200bmeeting to \u200b14.50%<\/p>\n
\u2022 On an annual basis, retail sales rose 4.0% in March, well \u200babove expectations \u200cfor a 2.75% increase in the \u200bReuters poll<\/p>\n
(Reporting by Isabel Teles; Editing \u200bby Gabriel Araujo)<\/p>\n","protected":false},"excerpt":{"rendered":"SAO PAULO, May 13 (Reuters) – Brazil’s retail sales volumes beat expectations and \u200creached a record high in…\n","protected":false},"author":3,"featured_media":793738,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[323942,4214,64,79,27223,2023,323941,67,132,68],"class_list":["post-793737","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-andres-abadia","tag-brazil","tag-business","tag-economy","tag-expectations","tag-retail-sales","tag-sales-volumes","tag-united-states","tag-unitedstates","tag-us"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116568038510563902","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/793737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=793737"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/793737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/793738"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=793737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=793737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=793737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}