SAO PAULO, Oct. 14 (Xinhua) -- A three-day blackout in Brazil's largest city, Sao Paulo, has led to losses of 98.6 million reals (17.6 million U.S. dollars) for the commerce and service sectors, the Sao Paulo Business Association (ACSP) said Monday.
The blackout caused by winds exceeding 107 km per hour has left around 2.5 million homes without power since Friday night, the ACSP reported.
The power outage affected Sao Paulo and its metropolitan area, Latin America's main financial and industrial belt.
"The losses were primarily due to a decline in immediate and impulse purchases by consumers," said Ulisses Ruiz de Gamboa, the economist of the business association,
As of Monday, more than 500,000 homes reliant on Italian company Enel, which holds the electricity concession for part of the state of Sao Paulo, remained without power.
Sales expectations were high as Children's Day was celebrated in Brazil on Oct. 12. ■
