Trade association registers slowdown in February – 07/03/2023 – Panel SA

The indicator of movement in retail in the capital of São Paulo measured by the ACSP (Commercial Association of São Paulo) recorded deceleration in February.

According to data to be released this week, the increase was 1.5% compared to the same period last year. In February 2022, the advance was around 5% on the same basis of comparison.

Ulisses Ruiz de Gamboa, an economist at ACSP, attributes this year’s growth to the resumption of Carnival. “This year, there was a large influx of people, of blocks. Some effect has, but it is small”, he says.

When the comparison is made with the previous month, February had a drop of 5% in the movement of the sector in São Paulo. The retreat was already expected by the ACSP. “[O Carnaval] it’s not exactly a super date for retail. It is the service sector that benefits most. Trade has some benefit, but not that much”, says Gamboa, who also cites the impact of fewer days in February.

For the coming months, expectations are for a cooling off in sales in a scenario of default, high interest rates and the slowdown in economic activity.

Joana Cunha with Paulo Ricardo Martins It is Diego Felix

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