Brazilian supermarket sector sees record growth in two decades

Brazil's supermarket sector last year registered a record growth in two decades, according to a survey released on Monday by a local business association.


The sector grew 7.5 percent last year, earning a total of 201.6 billion reais (124.4 billion U.S. dollars) in 2010, the survey released by the Sao Paulo Supermarkets' Association indicated.


The state of Sao Paulo alone, the most populous in Brazil, earned 61.3 billion reais (37.8 billion dollars) in the year.


The association attributed the sector's growth to the increasing consumption among people with low income and indebtedness in the country.
(Source:http://news.xinhuanet.com)