Brazil Consumer & Retail Q2 2019
A coalescence of surging consumer confidence, falling unemployment (from an admittedly high base), stable inflation,low interest rates and the election of Jair Bolsonaro as President, has provided the conditions for a strong consumer outlook in 2019and into 2020. Consumers are optimistic around the election results, and this has prompted six consecutive months ofimprovement in confidence readings, to reach highs not seen since 2013, a boom year. Unemployment remains in double digits at11.6% but this has come down over the course of 2018 from 13.1%, with an expectation that there will have been over 800,000more employed persons added to the labour market during 2018. This will see real spending grow by 3% in 2019, the highestreading since 2013.
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