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Brazil Christmas mall sales fall for 2nd year -industry group
December 27, 2016 / 12:20 PM / a year ago

Brazil Christmas mall sales fall for 2nd year -industry group

SAO PAULO, Dec 27 (Reuters) - Sales at Brazilian malls fell in the Christmas period for a second straight year, a sign of low consumer confidence in the face of unemployment and high borrowing costs.

Christmas sales fell 3 percent this year from a year ago, Alshop, an industry group, said in a statement on Tuesday. For the year so far, preliminary data also showed overall mall sales totaled 140.5 billion reais ($42.9 billion), a 3.2 percent nominal fall from 2015, Alshop said.

Alshop polled 150 retailers, which together operate about 7,500 stores in Brazil. Last year, Christmas sales fell 2.8 percent amid Brazil’s prolonged recession, Alshop said. ($1 = 3.2771 reais) (Reporting by Ana Mano; Editing by Chizu Nomiyama)

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