Retail sales grew by 4.1% in December 2000, in line with Patria's expectations of a 4% growth. The growth was fastest in the telecommunication sector, where the Christmas mobile mania delivered a 33% jump in retail sales. For the whole year 2000, the retail sales grew by respectable 4.6% on back of renewed consumer optimism and modestly growing real wages. We expect retail sales to grow 5% this year.