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Brazil supermarket sales rise 5 percent in November

Staff Writer |
Brazilian supermarket sales grew 5 percent in real terms in November from a year ago, industry group Abras said.

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Supermarket sales rose 1.51 percent in the first 11 months of the year compared to a year earlier in inflation-adjusted terms. In October, sales had increased 0.71 percent in annual terms, according to Abras data.

"The 11-month data was better than we predicted," Márcio Milan, an Abras executive, said in a statement.

He added Abras expects strong sales results for December, when consumers are expected to do the bulk of their Christmas shopping to take advantage of last-minute bargains.

Abras kept its 2016 sales growth forecast at 1 percent, but said the figure could be "slightly higher" depending on retailers' performance in the last month of the year.

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