RIO DE JANEIRO, May 14 (Reuters) - Retail sales volumes in Brazil dropped 0.9 percent in March from February, the government statistics agency IBGE said on Thursday.
Retail sales had been expected to fall 0.35 percent, according to the median estimate of 26 economists polled by Reuters. Forecasts ranged from a drop of 1.7 percent to a rise of 0.8 percent.
March’s retail sales rose 0.4 percent from a year earlier , the IBGE added, less than the 1.5 percent median estimate in the Reuters poll. Forecasts ranged from a drop of 0.5 percent to an increase of 2.7 percent. (Reporting by Pedro Fonseca and Rodrigo Viga Gaier)