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Brazil's household appliance and furniture retail sales rose 37 percent in March 2004 compared to March 2003, the most it has in 3 years, as falling interest rates spurred spending on household goods.
Retail, supermarket, and grocery store sales -- as measured by units sold -- rose 11.4 percent from a year earlier, after rising a revised 5 percent in February and 6 percent in January, the Brazil government said. The March increase was the largest since the government began keeping records in 2001.
Companies such as General Electric Co., the world's biggest company by market value, sold more bulbs, household appliances, fixtures, and other goods in Brazil in March, adding to evidence that interest rate cuts have boosted the economy after a 0.2-contraction last year. (Bloomberg)
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