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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Retail sales in Brazil registered a decline of 8.3 percent in the first semester of 2016 in comparison to the same period last year, according to the Serasa Experian Retail Activity Index. The result is the worst performance for a first semester since 2002, when the country faced one of its worst energy crises.

“The sharp decline in retail sales in the first half of 2016 is explained by the continued increase of the country's unemployment rate, the depressed consumer confidence levels as well as the more restrictive . . .

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