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Recession Driving Beauty Sales Down In Brazil in 2016, Analysts Say

November 12, 2015: 12:00 AM EST
Sales of beauty products in Brazil are forecast to decline as consumers reduce their spending, due to the economic recession affecting the country. According to market analysts, the world’s third-largest beauty market will post its lowest growth rate in 15 years. In 2016, the market is likely to get worse, with contraction even a probability. In 2014, the market grew 11 percen to 102 billion reals, or $26 billion at current exchange rate. Joao Carlos Basilio, former president of industry lobby group Abihpec, said the market could drop 50 percent in 2015, as the country’s economy turns for the worse, with gross domestic product growth expected to fall to 3 percent in 2015 and 1 percent in 2016.
Ivan Castano , "Brazilian Recession Seen Slicing Beauty Sales in 2016", WWD.com, November 12, 2015, © Fairchild Fashion Media
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