Brazilian property owners see food sales boom
Brazilian property owners bought more food at supermarkets in August, new figures show.
Statistics from the Brazilian Supermarkets Association (Abras) reveal that the spending power of the population is on the up as the country’s food stores saw a 4.1 per cent rise compared to the same month last year.
The sales were also a 0.8 per cent increase on July’s figures with the first eight months of the year seeing 5.3 per cent rise on the same period a year ago.
Abras said that the statistics are a "great result" and show a "strong outlook for the end of the year", which is positive news for Brazilian property owners.
It is the latest good economic news for the country, after analysis by the International Monetary Fund stated that Brazil is ahead of its Latin American counterparts for economic growth.
The report said that Brazil has adopted economic policies, has solid banks and has a strong economy which has left it well placed to fight the recession.
