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Brazilian retail sales haven’t been this bad in more than a decade

Products on sale are displayed in a clothing store in Sao Paulo, Brazil.
AP Photo/Andre Penner
Priced to move.
By Melvin Backman
Published Last updated This article is more than 2 years old.

If you needed another reminder that Brazil’s economy is struggling mightily as it slides towards a recession, it released retail sales numbers that were down 3.5% from this time last year, a drop twice as large as analysts were expecting. That comes on top of bad industrial production numbers, a weakened currency, wild inflation, and the high interest rates the Central Bank of Brazil is using to combat that inflation.

The country’s troubles highlight a broader slowdown in emerging market growth and shrinking investor confidence in the world’s developing economies.

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