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LatinNews Daily - 11 December 2020
In brief: Brazil’s retail sector accumulates positive result in 2020 so far
* Brazil’s national statistics institute (Ibge) has released the latest figures on Brazil’s retail trade sector, which show retail sales expanded 0.9% in October compared with September, and 8.3% year-on-year in October. In the ten months to October 2020, sales grew 0.9% – the first positive result for the year since the start of the coronavirus (Covid-19) pandemic, as the variation of accumulated sales for 2020 was flat (0%) in September and negative for the five months prior. “After very significant declines in April and May, the retail trade sector has been on a growth trajectory, albeit at a decelerating pace [...] This October result shows an upwards bounce” the manager of the Ibge’s research on retail trade, Cristiano Santos, notes.
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