Chile’s retail sector has experienced a dramatic slowdown, with recent data revealing a significant drop in retail sales for July 2024. According to official figures, retail sales growth reached just 2.7% in July, a steep decline from the 8.0% recorded in June 2024.This downturn is particularly stark in a year-over-year comparison, highlighting the sharp deceleration of consumer spending within a single month. The previous month’s figures already marked a significant slowdown, but July’s data points to further weakening economic activity in the retail sector.Updated on 30 August 2024, these figures are a clear indicator of the changing economic landscape in Chile, raising concerns about the future growth prospects of the country’s retail industry and the broader implications for the economy. Analysts will be closely monitoring upcoming reports to assess if this trend continues and to identify underlying causes.The material has been provided by InstaForex Company – www.instaforex.com
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