Sao Paulo’s retail shows growth
New figures show that the retail sector in Sao Paulo grew 6.1 per cent in March, it has been reported.
A survey by the Federation of Commerce of the State of Sao Paulo revealed the growth compared to the same month last year, according to ANBA.
The Conjunctural Survey of Retail also announced that first quarter growth for retail trade reached 7.3 per cent.
According to the news agency, the best performance was in the clothing, textiles and shoes sector which posted a rise of 18.1 per cent.
It believes the leading contributing factors for the boom were the expanding credit available and the recovery of employment and income rates in the metropolitan region of Sao Paulo.
A booming economy could be good news for those considering buying property in Brazil as it may be seen to underline the nation’s prosperity.
In March, Associated Press reported that Brazil’s economy beat economists’ predictions and grew by 5.4 per cent in 2007.
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