The Wall Street Journal reported Wednesday that “Brazilian retail sales declined in 2015 for the first time in more than a decade, as Latin America’s largest economy shows no signs of recovery from recession.
“Retail-sales volume fell 4.3% last year, compared with the prior year’s expansion of 2.2%, the Brazilian Institute of Geography and Statistics, or IBGE, said Tuesday. This marked the first annual contraction of retail sales since 2003, when it dropped 3.7%.”
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