Brazilian retail sales fell 4.3% in 2015 against the previous year, the first decline since 2003, the Brazilian Census Bureau (IBGE) said Tuesday. It was the biggest decline since the current methodology for tracking retail sales was adopted in 2001. Sales were down on a generalized decline in Brazilian economic activity last year. High interest rates and persistent inflation also contributed to declining sales. Big-ticket items were hurt the most. Furniture and home appliances were down 14% for the year. Even supermarket sales suffered, falling 2.5%.
Link to IBGE releaseMore Testimonials