Saturday, April 14, 2007
Sales of Big Ticket items fall as Joe Public feels the Pinch
Plenty of spin being used to shrug off the obvious, the decline started over Xmas, continued into the New Year with a 34% slump over previous years and now the weather is being blamed! People who can't afford a new sofa quite obviously can't afford to climb the so called property ladder. The economy is maxxed out on debt, maxxed out on tax, maxxed out on bills and there is no spare finance capacity left to push the whole lot forward, as people back off spending the rest of the economy will follow and it will hit the retail and housing sectors first. I said in January that it would take till Easter for the evidence of a downturn to start mounting, there should be some more interesting stats coming out in the next few weeks but they will be played down.