The volume of retail sales in Brazil was up11.4 percent in the first seven months of 2010 compared to the same period last year, the Brazilian Institute of Geography and Statistics (IBGE) announced on Tuesday.

The figures reflect the 13.5 percent expansion in Brazil’s trade in the

first half of the year compared to the same period in 2009, as well as the 8.9 percent GDP expansion registered in the same period.

According to the IBGE, retail sales were up in all eight sectors analyzed in the study. The most significant rises were registered in the computers and communication equipment segment (25 percent), in furniture and household appliances (19.3 percent), and in pharmaceutical and medical supplies (11.6 percent).

The nominal revenues originated from retail sales increased 14.5 percent from the January to July 2009 period.

In July, sales volume was up 0.4 percent from June, the third consecutive rise in the figures, and 10.9 percent from July 2009. Nominal revenues were up 0.4 percent from June and 13.5 percent from the same period last year.

In the August 2009 to July 2010 period, the sales volume was up 9.7 percent, while revenues were up 12.7 percent compared to the previous 12-month period.

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U.S. manufacturers’ and trade inventories in July rose 1 percent from June level, an encouraging sign of the rising consumer demand, the Department of Commerce ( DOC) announced on Tuesday.

This figure also represented a 2.4-percent gain year on year, said the DOC.

Consumer spending accounted for about two thirds of total activity in the world’s largest economy, which is slow in recovery from the worst recession for decades.

Tuesday figures also revealed that U.S. total retail and food sales increased 0.4 percent in August from July, the second consecutive monthly rally after two sluggish months.

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Home sales in Southern California in August have fallen to the lowest level in three years as the job market continue to remain flat and potential home buyers worry about job security, MDA DataQuick said on Tuesday.

A total of 18,541 new and resale houses and condos closed escrow last month in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties. That was down 2.1 percent from 18,946 sales in July, and down 13.8 percent from 21,502 sales in August 2009, the San Diego-based real estate information service said in a press release.

August’s sales were the lowest for the month of August since 2007, when 17,755 homes sold, and the second-lowest since August 1992 when 16,379 sold. The sales were 31.5 percent lower than the August average of 27,070 sales since 1988, when DataQuick began to collect statistics.

“The loss of home buyer tax credits explains much of the sales weakness over the past two months,” John Walsh, MDA DataQuick president said. “But other factors are suppressing sales, too, such as the lack of meaningful job growth and potential buyers’ concerns about job security.”

As one of the most common measurements used to compare real estate prices, the median price paid for a Southern California home fell last month to 288,000 U.S. dollars down 2.4 percent from 295,000 dollars in July but still up 4.7 percent from 275,000 in August 2009. The median has risen on a year-over-year basis for nine consecutive months. However, the gain in August was the lowest since that string of annual gains began last December with a 4.0 percent increase.

The median’s peak-to-trough drop was the result of both a decline in home values as well as a shift in sales toward lower- cost homes, especially inland foreclosures, the subsidiary of Vancouver-based MacDonald Dettwiler and Associates said.

“Also, for many out home shopping now, there’s little beyond ultra-low mortgage rates to pressure them to buy sooner rather than later, especially in areas where the number of homes for sale is climbing,” Walsh added.

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