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UPDATE 1-Brazil supermarket sales seen up by about 1 pct this year, Abras says
November 30, 2016 / 2:50 PM / 10 months ago

UPDATE 1-Brazil supermarket sales seen up by about 1 pct this year, Abras says

(Recasts lead, adds data, quote)

SAO PAULO, Nov 30 (Reuters) - Brazilian supermarket sales are likely to grow roughly 1 percent in real terms this year, industry group Abras said on Wednesday, suggesting demand for food may be resilient despite a severe recession.

Supermarket sales rose 1.16 percent in the first 10 months of the year compared with the year-earlier period in inflation-adjusted terms. In October, sales increased 0.71 percent, according to Abras data.

“What the numbers show is that sales were stable in the second half. It is not a good number, but it will not get worse,” João Sanzovo Neto, president-elect of Abras for the 2017-2018 period, told a press conference.

The Abras national sales index compiles data from 2,800 outlets representing about 130 companies that account for 60 percent of supermarket sales in Brazil. (Reporting by Gabriela Mello; Writing by Ana Mano; Editing by Chizu Nomiyama and W Simon)

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