SPORTS NEWS

Brazilians expected to spend less celebrations

Rio de Janeiro, June 12: Some 24 per cent of consumers plan to buy products over the next few weeks to celebrate the 2018 FIFA World Cup in Russia, well below the 50.1 percent who spent money on the 2014 World Cup in Brazil, according to the results of a survey released Monday by the Brazilian Business Confederation. “In addition to there naturally being less enthusiasm among the people for a World Cup played abroad, the situation among consumers is less favorable in 2018 than it was four years ago,” Brazilian Business Confederation economic unit chief Fabio Bentes said in a statement. Brazil’s economy contracted 3.5 per cent in 2015, the worst performance in 25 years, and another 3.5 per cent in 2016, marking the first time since 1931 that the gross domestic product (GDP) fell for two consecutive years, Efe reported. IANS