Brazil: Retail Foods
After the longest recession in history, Brazil was predicted to kick-start economic growth in 2018. However, an uncertain economic and political climate, in which Brazil’s 2018 presidential election was key, brought much volatility to the economy. Optimistic indicators were revised down, and Brazil’s GDP grew by a meager 1.1 percent in 2018. The performance of the retail industry within the same period was also anemic, with just 0.7 percent growth. With the election of President Bolsonaro, who believes in a liberal economic agenda, business confidence is on the rise. Along with the larger business community, retailers expect the new government to pass crucial reforms and get the economy growing again.
