Consumer Is King

September 2007 | Data Release

The Brazilian consumer has benefited from a stable economic backdrop combined with declining interest rates. Furthermore, a steady rise in the real wage has increased households purchasing power, which has resulted in a consistent increase in retail sales. Indeed, data released by Brazil's statistical institute (IBGE) shows that retail sales growth came in at a three-year high of 11.8% in June, which brought the three-month moving average to 10%, its highest level since mid-2004. Furthermore, on a seasonally adjusted basis, retail sales came in at 10.4% in June. Strong consumer demand has also been fuelling industrial production. Consumer confidence has

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