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Economy / Brazil


July 2012 | Data Release

Retail sales surprised to the downside in April, posting just 6.0% y-o-y growth, and underperforming Bloomberg consensus of 7.5%. While we expect weak economic activity numbers to keep retail sales modest in coming months, in line with our view for 2.4% real GDP growth this year, we anticipate a pick up in the latter half of the

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