Brazil's supermarket sales grow 5.78% in October, says Abras

Supermarket sales in Brazil in October grew 5.78% compared to the same period in 2018 and 4.3% over September, the industry entity, Abras, reported wednesday (4), citing deflated data. From January to October, the supermarket sector showed real growth of 3.48% compared to the previous year. According to abras president João Sanzovo Neto, household consumption accelerated from the second half, mainly by increased credit to individuals, driven by the release of fgts and PIS/Pasep looting, in addition to falling interest rates and the recovery of the labor market. "In the month, we also had Children's Day, which drives the sale of sweets and toys," he added in a statement. Sanzovo also pointed out that the result in the accumulated year already indicates that the 2019 sales close should surpass the initial projection of the supermarket sector. Abras' projection for the year is 3% growth. "Even reaching the third consecutive month with results above our goal, we chose not to do a new official review. But we are optimistic about the end of the year, which will still add to the results of Black Friday and Christmas and New Year's Eve shopping."