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By STEPHANIE ROSENBLOOM
Published: October 7, 2008
The back-to-school shopping season is about to receive a
dismal report card.
MasterCard SpendingPulse, which measures national retail
sales, said a steep drop-off in consumer spending sent its
specialty retail sales index plunging 7.7 percent in September
compared with last year. In August, the decline was only 4.1
percent compared with the period a year ago
The nation’s retail chains will not report September sales
figures for stores open at least a year, a measure of retail
health, until Wednesday and Thursday. But MasterCard
SpendingPulse’s report, which is based on sales activity in the
MasterCard payments network, along with estimates for other
forms of payment, shows declines across the board — including
double-digit declines in categories like electronics and
furniture.
“It is the biggest drop we’ve seen in
SpendingPulse history,” said Kamalesh
Rao, director of economic research at
MasterCard SpendingPulse, which began in
2003. “In September we saw a very
pronounced slowdown, even compared to
this recent trend in the summer.”
Analysts attribute the pullback in consumer
spending over the last few weeks to a deep
unease about the economy, exacerbated by
headlines about stock market volatility and
rising unemployment. Retail sales across
the country were also affected by
hurricanes that shut down stores and kept
shoppers at bay.
http://www.elperuano.com.pe/edc/2008/09/30/eco1.asp
http://www.elperuano.com.pe/edc/2008/09/30/eco5.asp
http://www.elperuano.com.pe/edc/2008/09/30/eco5.asp
http://www.correoperu.com.pe/lima_nota.php?id=73958&show=