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Commercial activities in Brazil up 8.5% in Q1
Last Updated(Beijing Time):2011-04-06 10:21
Commercial activities in Brazil rose 8.5 percent in the first quarter of 2011 compared to the same period last year, the credit consulting company Serasa Experian said Monday.

According to Serasa, the figures reflect some deceleration in the Brazilian economy this year, compared with the 10.3 percent registered in 2010.

In March, commercial activities grew 5.5 percent year on year, the lowest growth rate since July 2009, and the figure fell 0.8 percent compared to February.

Experian attributed the deceleration to the restriction measures recently adopted by the Brazilian Central Bank to halt the expansion of credit and control the rising inflation rate. The 11.75 percent rise in the annual basic interest rate Selic also contributed to the slowed growth.

Serasa said that the deceleration, which is more visible in the sectors that depend on credit, will continue in the next few months.

Serasa's survey was carried out with 6,000 companies from all over Brazil in six different sectors: vehicles, food products, furniture, electronics and computers, construction supplies as well as clothing and textiles.

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