BRASIL: Retail Sales Rise 8.7%; Best Since October '08.

BLOOMBERG/

Brasil's retail sales rose by 8.7% for the 7th consecutive month in November--the best performance since October 2008's 9.8% numbers. “Domestic demand continues to be without a doubt the main driver of the Brazilian economy,” said economist Newton de Camargo Rosa. “Stronger demand will at some point force the central bank to raise rates.”