14.11.2008 22:47

HSBC says retail sales were terrible


"The key take-away is that Q4 real consumption, which was on track for -2.5%, is now on track for -3.5%." RBC says the retail report was worse than expected, but "Hopefully, the decline in gas station receipts will feed through to higher sales in other sectors, although that beneficial effect could be dampened by the credit crunch."






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