In the second half of last year, retail in São Paulo grew 7.7% compared to the same period of the previous year, announced today (19) the Commercial Association of São Paulo.
According to the Sales Balance, the association’s indicator, growth in the second half was due to income transfer programs, job growth and the recovery of consumer confidence.
Considering the whole of 2022, there was a 2.4% decrease compared to 2019. The basis of comparison used was the year 2019, because it corresponds to the pre-pandemic period, before the trade needed to be closed to avoid the spread of the new coronavirus (covid-19).
For this year, economists at the Commercial Association expect modest growth for the sector, mainly because of the interest rate and the level of household debt.
