Brazilian retail grows 2.3% in August, according to ICVA One more Saturday, strong selling day, and one less Wednesday positively interfered with the result Brazilian retail sales grew 2.3% in August, after inflation compared to the same month last year, according to the Cielo Broad Retail Index (ICVA). In nominal terms, which reflect the actual sales revenue observed by the retailer, the ICVA recorded a 5.7% increase. The month result benefited from the comparison to the same month last year because there was one more Saturday, strong selling day, and one less Wednesday. By adjusting the deflated ICVA for these non-recurring effects, the increase would be 1.4%. Nominal ICVA, in turn, would...
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