retail sales continued their growth trajectory in the wake of the end of the recession last year. Growth in the sector reached 2.3% in 2018, the best result in five years. The data was released by the Brazilian Institute of Geography and Statistics on Wednesday (13).
Sectors of highlight in the year included personal items (+7.6%), pharmaceutical and medical items (+5.9%), hypermarkets, supermarkets, and food products (+3.8%) and computer and communication equipment (slight increase of 0.1%).
The expanded retail sector (which also comprises the sales of the automotive sector) grew for the nineteenth time in a row, with a 5% increase in activity in the period. The result was chiefly driven by the sale of automobiles and motorcycles, which climbed by a significant 15.1%.
The sector’s recovery comes in the wake of the resurgence of the Brazilian economy, which now enjoys curbed inflation and the SELIC benchmark interest rate at historic lows following a long recession.
Brazil Gov News