Monday, March 23, 2020

Coronavirus isolation expected to reduce retail GDP by up to 30%

Retail GDP is expected to shrink by 20% to 30% this year from about R$600 million in aggregate value in 2019, according to calculations by consulting firm Alvarez & Marsal. Retail is one of the sectors that should be most affected by confinement to prevent the spread of coronavirus. A&M estimates that the decline could reduce gdp between 1 percentage point and 3 percentage points. While the food, supermarket, logistics and cleaning sectors will be overwhelmed over the next four months, airlines, hospitality, footwear and clothing, electronics, car sales and construction materials are expected to suffer Brutally.
O Estado de S.Paulo - 22/03/2020 News Item translated automatically
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