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09/01/2018 - 15:18hs

Retail sales picked up in November

Sales were up 0.7% from October and 5.9% year-on-year, the Brazilian Institute of Geography and Statistics (IBGE) said.

Rio de Janeiro – Driven by discount sales such as Black Friday, retail sales were up 0.7% in November from October 2017 in Brazil, offsetting the 0.7% drop seen in October. Year-on-year in November, retail activity climbed 5.9%, going up for the eighth straight month in the second biggest increase of 2017.

The Brazilian Institute of Geography and Statistics (IBGE) issued its Monthly Retail Survey (PMC, in the Portuguese acronym) this Tuesday (9). Survey manager Isabella Nunes said online discount sales drove the sector in November. “What we saw in November was that activities relating to November promotions – which are mostly offered online – were the best-performing ones. This goes to show that the drop in October was due to purchases being postponed to November,” she explained.

Retail sales were up 1.9% year-to-date through November and 1.1% in the 12 months through November, in line with the upward curve which began in October 2016, a month in which retail activity had slid by 6.8%.

*Translated by Gabriel Pomerancblum

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