Slowing Real Retail Sales Growth

BRAZIL ECONOMICS - Report 17 Feb 2014 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

Growth of real retail sales decelerated substantially in 2013. In the restricted sense, sales grew 4.3%, just over half the figure in 2012 (8.4%), while in the augmented sense (including cars and construction materials), growth was 3.6%, less than half the rate (8.0%) in 2012 (Graph 1). In this report we weigh the relative importance of the factors explaining this deceleration.

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