Brazil: São Paulo retail advances 18% in November
The movement in retail in São Paulo advanced 18.3% over October, according to data from the Sales Balance of the Commercial Association of São Paulo (ACSP).
The indicator is prepared by the Institute of Economics Gastão Vidigal (IEGV), with a sample from Boa Vista Serviços.
Compared to the same month of the previous year, retail sales increased by 3.2%. Compared to the same month of 2019, the advance was 4.1%.
According to an assessment by ACSP economist Marcel Solimeo, the results reflect the faster pace of the economy, greater occupation and improvement in employment indicators. “We have to consider two other influencing factors in this greater movement that was Black Friday and purchases related to the World Cup”, he commented.
According to the expectation of the ACSP economics institute, sales will continue heated. Economists project real growth of 3% over the previous year this Christmas.
The estimates are confirmed based on the survey carried out by the entity with consumers in the State of São Paulo and the capital of São Paulo. According to the sample, 50.8% of respondents from São Paulo intend to go shopping on that date, among residents of the city of São Paulo, the percentage of registered purchase intentions was 53.5%.
With information from Agência Brasil
More: Brazil news in English, every day from The Rio Times.
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error