Rio – Supermarket sales were up 7.7% in July, compared to June. For the year, there has been a cumulative rise of 1.17%, reports the president of the supermarket association (Abras), João Carlos de Oliveira, speaking at the launch of perparations for the Expo Abras 2004, Latin America's biggest supermarket fair which takes place in September in Rio.

"Very good sector performance," declared Oliveira, adding that it is expected that the strong sales will continue for the rest of the year with a 2% year-end increase. Oliveira said he believed sales would be up over 2%, which would offset losses of 4.5% last year.

Oliveira said interest rates and jobs remained unfavorable, hindering further growth in the sector. "Those macroeconomic factors are not good, but they are better than they were a year ago and need to improve even more if we are to achieve sustainable growth. In order for supermarkets to really grow consumers have to have money in their pockets," he declared.

Agência Brasil
Reporter: Alana Gandra
Transaltor: Allen Bennett
08/20/2004