By  on July 24, 2014

MEXICO CITY — Brazil’s beauty industry, the world’s third-largest, is expected to grow by 11.8 percent to 42.6 billion reals, or $19.2 billion at current exchange, this year, despite slowing consumption on the back of Brazil’s economic downturn.

Latin America’s largest economy is set to grow a mere 1 percent in 2014, down from a 2.3 percent hike last year and much higher growth rates in the past few years.

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