11/26/2008 10h59
SP Retail detects reaction in credit sales
Valor Econômico 11/26/2008
The inquiries to the Brazilian Credit Protection Service (SCPC) in the 23 first days of November grew 2.1% compared to the same period of 2007. According to the São Paulo Trade Association, responsible for the service, the result shows a "reaction" in sales, after a bad October for the sector. The entity informed the resumption of the credit offer to the consumer -mainly due to the governmental incentive for the financings - corresponds to the expectations for sales with Christmas around the corner. The association's economist Emílio Alfieri explained October was very bad for retail because of the worsening of the world economic crisis. "Everything suggests the initial impact of October is not getting worse and there is a reaction now." Alfieri recalled that between January and September this year the daily average of sales grew 8.3% compared to the same period of the previous year. In October, the index fell to -0.6% (compared to the same month of 2007) and it now reaches 8.3%. In relation to sales in cash, the SCPC-Check - index of this kind of sale - presented a decrease of 0.5% in the period compared to 2007's.
