Brazilian retail sales beat all the forecasts to begin the year 2018 with a bang. Retail sales advanced 0.9% in January against the previous month while rising 3.2% against January of 2017, the Brazilian Census Bureau (IBGE) said Tuesday. Sales were led by supermarkets, which scored a month-on-month increase of 2.5%, and by computers and computer-related equipment, which rose 3.7% in a single month. IBGE economists said the rise in retail sales was due to increasing employment, wage gains and sharp cuts in interest rates charged consumers. Retail sales are expected to continue their recovery throughout the year, they said.
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