Brazilian retail sales rebounded in October following eight straight months of decline, the Brazilian Census Bureau (IBGE) said Wednesday. Retail sales rose 0.6% in October against the previous month but were still down 5.6% against October a year ago. The October rebound was led by supermarket sales. Big-ticket items such as computers and mobile phones lagged. Brazilian retail sales have been hobbled in recent months by high interest rates and nagging consumer debt. Economists said the October figures could signal a stabilization in employment and incomes coupled with the beginning of a decline in consumer debt levels.
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