Today, we look behind the numbers of Brazil’s recent rise in retail. São Paulo starts producing Covid-19 vaccines. And the Brazilian Navy launches a new submarine.
Retail sales beat expectations, but recovery slows
Retail sales grew by 0.9 percent between September and October. The result obliterated expectations of just 0.1 percent — according to Bloomberg — and official data shows the sector is at a level 8 percent higher than in February, just before the pandemic hit.
- However, retail results could have been even better had it not been for rising inflation rates scaring off lower-income consumers, who have focused...