The volume of sales registered in Brazil's retail sector in January increased by 11.8 percent year-on-year, Brazilian Geography and Statistics Institute (IBGE) said Friday.
It is the best result for January since the IBGE started carrying out the study in 2001.
Compared with December 2007, sales rose by 1.8 percent in January, greatly exceeding analysts' estimate of 0.7 percent increase.
According to the IBGE, all the 10 retail sectors covered in the study reported growth compared with the same period a year ago. Furniture and household devices saw a dramatic hike of 16 percent.
However, in comparison with the previous month, the sales volume of offices supplies, computer and communication devices was down 4.1 percent, while the sales of furniture and household devices went up by 9.8 percent.
The IBGE ascribed the rises in retail sales to economic progress, including increasing incomes, employment and consumer credits, as well as the devaluation of the U.S. dollar against the local currency real.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article