Trade in Rio registered an increase of 0.4% in the first quarter of 2024, after two successive drops in the same period in 2022 (-1.3%) and 2023 (-1.0%), according to data from the Clube de Store Directors of Rio de Janeiro – CDLRio and the Commerce Stores Union of the Municipality of Rio de Janeiro – SindilojasRio.
Some segments rose above this average, such as clothing, fabrics and footwear, which grew approximately 1.0%.
These variations, in supposedly low standards, reflect the lethargy of the Rio de Janeiro economy in boosting the national economy, considering that not all commercial activities showed an increase in sales.
“Despite the recovery, some segments were unable to close the first quarter of 2024 in the black. A significant portion of these estimates is associated with the movement of the credit system and, by extension, with the growing indebtedness of families. People massively use credit cards, considered the biggest culprit in debt, mainly due to their high interest rates; They use it to supplement their income, ending up complicating themselves with heavy expenses. Fortunately, the process of falling Selic and interest rates tends to reduce installments and compromise the budget. The expectation is that this improvement will contribute to boosting sales”, explains Aldo Gonçalves, president of CDLRio and SindilojasRio.
