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Economy / Brazil

Brazil

May 2012 | Data Release

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Brazilian retail sales continued to tick up in February, coming in at 9.6% y-o-y, beating Bloomberg consensus estimates of 9.1% y-o-y to hit a 10-month high. This follows an upward revision of January's reading from 7.3% y-o-y to 7.8%, and indicates that consumer demand is beginning to pick up. We expect retail sales to continue to be bolstered by extensive fiscal and monetary stimulus over the coming months.