Wednesday 7 July 2010

European Debt Crisis: Retail Sales Rise - 07/07/10

Across Europe in May, retail sales rose as Germany, France and Spain increased their spending. As unemployment was at a 12 year peak in May, it is expected that consumers will lower their spending in the coming months. As Hermes CEO Patrick Thomas stated, “many questions remain” concerning the rest of 2010.

Howard Archer, chief European economist at London’s IHS Global Insight, showed concern for the European debt crisis and suggested “it looks very likely that there will be renewed moderation in growth in the third quarter.”

Image credit: hermes.com

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Posted by MO at 6:00 am
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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au