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Brazil retail sales sink 1.5 percent in January

March 10, 2016 by

Brazilian retail sales fell back by 1.5 percent in January against the previous month and 10.3 percent against January of 2015, the Brazilian Census Bureau (IBGE) said Thursday. The month-on-month decline reflected seasonal factors but the year-on-year retreat was due to Brazil’s recessionary economy, according to economists. Consumers are facing high interest rates, inflation and rising unemployment.

Link to IBGE release

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