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29/12/2017 - 10:27hs

Brazilian retail to grow 1.8%

A forecast from the São Paulo Trade Association shows commerce increased in Brazil in 2017 and will pick up further as 2018 begins.

São Paulo – Brazilian retail sales will increase by 1.8% in 2017 from 2016, according to an estimate from the São Paulo Trade Association (ACSP), which expects activity to pick up further during the first months of the year. ACSP sees the sector growing by 2.6% in the 12 months through April 2018.

“We witnessed a palpable macroeconomic improvement, which paves the way for trade and the economy to increase consistently throughout 2018,” a press release quoted Alencar Burti, ACSP president and Federation of Trade Associations of the State of São Paulo (Facesp).

The forecasts from Institute of Economics Gastão Vidigal/ACSP are based on data from the Brazilian Institute of Geography and Statistics (IBGE) and the National Confidence Index/ACSP.

*Translated by Gabriel Pomerancblum

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