10/16/2008 08h53
Retail Sales still resist crisis
Valor Econômico - 10/16/2008
Retailing commerce had 10.6% growth in the first eight months of the year, with 11% expansion in August compared to September (with seasonal adjustment), according to a survey made by the Brazilian Institute of Geography and Statistics (IBGE). There are expectations that the performance in the month of September should have been stronger - ignoring the effects of the financial market's turbulences in the second half of the month - due to the biggest number of working days and the recovery of the automotive sector's sales. Analysts have doubts about the size of the effect of the crisis on sales in the last quarter of the year. The most pessimistic forecast indicates that commerce may close the year with a growth between 5.5% and 6.5%, against 9.7% in 2007. The most optimistic forecasts point to a slower deceleration, which would cause the year's growth to be between 8% and 9.9%. Retailers from different segments show good sales in September.
