SAO PAULO, July 11 (Reuters) - Retail sales volumes in Brazil were flat in May from April, the government statistics agency IBGE said on Thursday.
Retail sales had been expected to slip 0.3 percent, according to the median estimate of 25 economists polled by Reuters. Forecasts ranged from a 1.8 percent drop to a 0.9 percent rise.
May retail sales grew 4.5 percent from the year-earlier period, the IBGE added, more than the 3.5 percent median estimate in the Reuters poll. Forecasts ranged from a gain of 2.4 percent to 6.0 percent.