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Brazil Property News: Brazil's retail sales up 10%
19th November 2007 09:26
Brazil's retail sales are up by ten per cent from this time last year, according to new reports.
After seeing nine months of consecutive growth in the retail sector, the volume of sales in Brazil continues to grow, indicating a strengthening consumer market.
Car sales, computing and home appliances are the sectors which have seen the biggest boom, according to national statistics, with supermarket and grocery store sales also rising by eight per cent in September this year, compared with the same month in 2006.
Household and furniture appliances sales grew by 20.1 per cent, car sales increased by 15.8 per cent and supermarket and tobacco sales were up 7.5 per cent and 15.9 per cent, respectively.
Economist for the Brazilian Institute of Geography and Statistics, Nilo Macedo, told Brazzil Mag: "The supermarket sector was mainly favoured by the anticipation of the first half of the thirteenth salary of pensioners.
"Therefore, in December this influence will be smaller in comparison with previous years," stated Nilo Macedo.
Growth in consumer markets is good news for traders and investors in Brazil as it signals a greater amount of disposable income in the nation.
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