Sao Paulo retail projects growth of 1% in sales in 2017

São Paulo – paulista retailers expect a 1% growth in real sales in 2017, after stability 1 2016, said on Tuesday the association representing Sao Paulo traders, the FecomercioSP.
According to the entity, next year the total sales revenue should reach 583.4 billion reais. The expectation of growth is based on the hope of approval of fiscal adjustment measures the Government of Michel Temer and maintaining the cutting cycle in interest rates, which tends to restore confidence of the economic agents.
"The economy of São Paulo should benefit more intensely for a possible improvement of external trade and industry, who have more intense positive impacts on income," said the Swiss in press release.
For 2016, the entity expects the paulista has revenues of 580 retail billion reais, stable about 2015, but better than the previous expectations of a fall of 5%. The industry has presented retraction in sales from 2014.
Already for Christmas sales this year, the FecomercioSP wait 0,3% retraction on the same period last year, to 59.1 billion reais.
"Even with the beginning of the reversal of the cycle of falls in sales observed from June, there are no elements to support an optimistic forecast for the retailer in December," said the organisation.
"The persistence of the income downturn and high unemployment rate, combined with the high interest rates and difficulty of access to credit, should discourage sales at Christmas," he added.