The Brazil economy saw Brazilian consumer spending slow twice the rate of GDP between 2008 and 2009 according to Bloomberg.
According to Itau analyst, it is estimated that Brazilian personal consumption may slow 7.9 percent this year to 5.2 percent in 2009.
Nonetheless, despite the concern that the Brazil government’s attempt to control inflation will negatively impact the growth of the Brazilian economy; rising incomes and low unemployment have spurred spending as retail sales hit 10.5 percent in May.
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