Retail sales grew 9.5% in Brazil

A survey conducted by Serasa, a company that specializes in analyses for backing up credit and business support decisions, indicates that retail sales increased by 9.5% in Brazil from January until September, compared with the same period of last year.
According to the survey, sales by specialized retail stores, such as electric and electronic appliance, vehicle, and construction material stores grew 12.2%. Sales by hypermarkets, supermarkets, and food and beverages retail sales rose by 6.9%.
Sales have also recorded a 7.7% increase in September in comparison with the same month of 2006. The specialized retail sector led the increase, with a 9.7% growth. The volume of sales by hypermarkets, supermarkets, and retail sales of food and beverages grew by 5.9%.
According to the Serasa, contributing factors to the performance include credit expansion, longer financing terms, lower interest rates, higher formal employment rates, lower default rates, and an increased salary mass.
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