According to the Brazilian Supermarkets Association (ABRAS), in real terms, Brazil’s supermarket sales grew 1.58% in 2016 as compared to the previous year. The business association points this result exceeded official forecasts, which indicated an estimated growth between 1.0 and 1.2 percent for 2016.

In December, supermarket sales grew 2.23% when compared to the same period of 2015. As compared to November, sales increased by 20.89%. 

Such results confirm recent forecasts indicating that Brazilian economy, facing its worst recession in the last 20 years, may have found a way to recover GDP growth throughout 2017.

ABRAS estimates an increase of 1.3 percent for this year.

 

Source: O Estado de S. Paulo, January 30th 2017