The 1.1% rise in retail sales in February compared to January is a “positive surprise”, according to FGV IBRE researcher Marina Garrido, in an interview with CNN Radio.
“The growth comes because of Ômicron, which affected in January, and February brought a respite for services, despite the expectation having been higher than the result, and the retail with a good performance”, he said.
Even so, the economist highlighted that the retail situation “should not remain favorable for the rest of the year.”
She explains that for services the results should be positive, but for retail not so much: “It may grow in one month or another, but there will be no persistent growth for consumption, with high inflation and expensive credit, now with greater mobility, people will end up preferring to go to a restaurant, hairdresser than buy a car or appliance.”
The trade as a whole, according to Marina Garrido, has two problems that it will have to deal with: “the lack of stock due to logistical problems — which have been worsened by the war and should only normalize in 2023 — and compromised family income.”
Despite this, she said that the forecast by FGV IBRE is for growth at the end of this year for the sector.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
