FGTS injects R $2.65 billion at retail in March

The data were collected by the National Confederation of trade in goods, services and tourism (CNC). Among the branches of national retail more impacted by the release of the resources are those of: clothing and footwear (R $1.19 billion), construction materials (R $594,400,000), furniture and appliances (R $530,200,000) and pharmacies, perfumeries and cosmetics (R $337,000,000). The value busy by four segments corresponds to 48% of R $5.5 billion were withdrawn in March according to Caixa Economica Federal; the 6.2% of the monthly sales of these segments and more than half (54%) of the revenues received by the sectors in a day.
Despite having contributed to the increase in sales volume, the principal economist, Fabio Bentes, claims that "you can''t assign the FGTS partial trade recovery seen over 2017". According to him, the successive falls of the average prices charged by some segments of the retail and the retreat in the value of benefits in credit operations focused on individuals also favored the process.
Resources of inactive FGTS accounts in addition to these factors, the Economist, but is unable, by itself, resolve the crisis that afflicts the retail from 2014. For this to occur, there is a need for greater labour market reaction.
CNC concludes that the allocation of less than half of FGTS funds confirms the perception that the high level of indebtedness of households in the credit market has contributed to reduce the positive impact of these resources in the Brazilian retail sector.