Brazil saw retail sales volumes drop 0.4 percent from a month earlier indication a slowdown as South America’s largest economy continues to struggle with rising inflation, the Brazilian Institute of geography and Statistics announced late on Tuesday.
Sales in August were up 6.2 percent year-on-year but nonetheless produced the second most sluggish growth rate since September 2009. It was the first recorded volume decline since a 0.2 percent drop in April.
Only two of Brazil’s ten activities that make up the retail trade reported positive growth. Vehicles, fabric and apparel, construction material, cosmetics and furniture appliances reported the largest decrease.
Meanwhile, the Occupy Wall Street campaign has grown into a global movement and continues to attract tens of thousands of protestors marching against the current political and economic system. What started with a group of around 1,000 people walking through the streets of New York has turned into an international appeal for an end to taxpayer bailouts and for political leaders to accept accountability and responsibility for their action.
