Retail continues to grow in Greater Recife.
According to data collected by Fecomércio-PE, all 13 economic sectors monitored by the institution's research increased their revenue compared to April.
PE247 – Retail sales in the Recife Metropolitan Region (RMR) showed growth even with a high level of default in the state, due to Mother's Day. Notable increases included more than 15% in semi-durable goods, in addition to over 20% growth in footwear/accessories and almost 17% in clothing/textiles – sectors that typically see increased activity during Mother's Day celebrations.
According to data collected by the Federation of Commerce of Goods, Services and Tourism of Pernambuco (Fecomércio-PE), all 13 economic sectors monitored by the survey increased their revenue compared to April.
The research also shows that the automotive trade was the only segment that did not achieve sales growth compared to May of last year, despite the policy adopted by the Dilma government aimed at reducing the Tax on Industrialized Products (IPI) for cars. Growth was only 3%.
According to Fecomércio consultant Luiz Kehrle, job creation is the justification for the sector's weak performance. "To date, employment has increased by about 2,7%, whether or not vehicle dealerships are considered, a value lower than the 6,5% accumulated up to May 2011," he points out. The other factor is that the total wage bill has increased by about 10%.
The best performing sectors were construction materials, with an increase of almost 14%, and home goods stores, with more than 12%.
FORECAST - Expectations regarding the performance of the Brazilian economy in 2012 continue to decline. The Central Bank's Focus report of June 22, 2012, forecasts GDP growth of 2,18%, and for several market participants, a realistic target for the year is around 2%. After the IBGE released data showing weak national GDP performance in the first quarter, the forecast of growth lower than the 2,7% recorded in 2011 strengthened.
“However, the GDP results for Pernambuco in the first quarter, showing growth of 4,6%, higher than the national result and even higher than the 4,5% recorded last year, allow for a forecast of retail growth in the RMR (Recife Metropolitan Region) exceeding 5%, but below the 6,5% predicted at the beginning of the year,” says José Fernandes de Menenzes, who is also a consultant for Fecomércio (Federation of Commerce).