translated from Spanish: Frozen October: retail sales fell 9.4%

the loss of purchasing power of wages and high rates of financing had a corresponding impact on consumption, which accumulate 10 months of falls reported Sunday the Confederación Argentina de la Empresa medium (CAME).
“All the products that make up the basket retailer had falls very strong in a market that sold what is just and necessary,” said the organization.

Report November 2018 CAME in October 76.4% of polled businesses had annual low in their offices, grew only 17.4 per cent and 6.2 per cent remained unchanged.
“There’s much concern among employers about how will be the sale of end of the year if the market has not picked up” said the CAME.

According to CAME consumers much controlled spending with cards. Although between the option payable in a single payment or in more than one without interest, was always elected term. In a context with as high financing rates of pay in installments with interest decision responds to the need. “Financing of credit cards rates are excessively high what is resenting much consumption, feels the fear of consumers to borrow”, said Alberto Juan Mazzoni, Secretary of the Federation of shopping malls open pit of the city of Corrientes.

According to his view, the situation of the month was very bad and “mother’s day was the worst in many years”. By the way, this celebration in October helped improve sales in September, but not in front of last year since there was a strong fall.” Sold very little, the gift was discreet, and although there were many promotions, they hit to save the date where families made more outings that you buy”, said the CAME.

Recession consumption power purchasing SME interest rate

Original source in Spanish