Brazilian retail sales rebounded in November against the previous month but were still down substantially from November of 2014, the Brazilian Census Bureau (IBGE) said Wednesday. Retail sales were up 1.5% in November against the previous month but showed a decline of 7.8% against November of 2014. The month-on-month rise was due mainly to seasonal factors, with November sales spurred by Christmas shopping. The year-on-year decline was due to continued economic problems, including high interest rates and rising unemployment. Nevertheless, economists saw some rays of hope in the November figures, including a substantial month-on-month rise in purchases of big ticket items such as computers and home appliances.
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