SAO PAULO (Reuters) – The national retail sales rose modestly in November over a year earlier, after a fall in October, when the performance interrupted a positive six-month cycle, according to data collected by the payment services company Cielo and released on Wednesday -market.
Retail sales rose 2.1% in November, discounted for inflation, after falling 0.8% in October, according to the ICVA index, calculated by Cielo based on the movement of its payment machines used by the company’s client stores.
But, also excluding calendar effects, November sales rose 1.2% over the same period last year.
“A possible factor that contributed to the positive closing of the index was the dilution of sales related to Black Friday throughout the month of November. This was proven because the growth of sales on the Black Friday weekend itself was lower than that verified in the rest of the month”, stated Cielo in a statement to the market.
“However, despite the positive closing this month, when discounting the inflationary effect in the period, retail is still below the level observed in the same period in 2019”, added the company.
(By Alberto Alerigi Jr.; edition by André Romani)
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