By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – Not even the strong appeal of Mother’s Day helped retail sales results in Brazil, according to the country’s official statistics bureau, IBGE. In May, according to the bureau, retail volumes fell by one percent in comparison to April and the accumulated decline in the first five months of the year is of 7.3 percent.
IBGE analysts, however, note that the interesting aspect of the data is that despite the one percent drop in volumes, retail sales only declined by 0.1 percent in relation to nominal revenues . . .