News

Brazilian retail could grow 1.4% this year

18 de outubro de 2017

The forecast predicting an increase in retail sales was done by the São Paulo Commercial Association. It doesn’t include vehicles and construction material.

São Paulo – The volume of sales of Brazilian retail sector should grow 1.4% this year in comparison to 2016, according to a forecast by the São Paulo Commercial Association (ACSP). In July, the association’s forecast had predicted that the sector would end the year with a decline of 0.4%. For the association, the improvement of the scenario is due to a decline in the inflation rate in the last few months, which was sharper than expected. The data measures the restricted retail market, which doesn’t include vehicles and construction material.

“To close out the year in the positive is good news. And the drive for this recovery was the decline of interest rates and inflation. The recovery is slow and won’t offset what was lost last year, but it’s consistent,” said Alencar Burti, ACSP’s president. In 2016, the domestic restricted retail market declined 6.2% over the previous year, according to the Brazilian Institute of Geography and Statistics (IBGE).

*Translated by Sérgio Kakitani