Sports clothing boost for Argentina’s economy
08/12/2009
The onset of summer in the southern hemisphere boosted sales of sports clothing and equipment in Argentina in November, and, because sales of these items were 9.1% higher in November 2009 than in the same month last year, business organisations have interpreted the development as a good indicator for the overall economy there.
An organisation called the Argentinean Confederation of Medium-Sized Business (CAME) calculated the increase and said that, overall, consumer spending was up by 3% compared to a year ago. It pointed out that November 2008 had been a particularly bleak month for business in Argentina, and insisted that it was still being cautious about predicting growth, but said that the most recent figures were welcome because they put an end to 14 consecutive months of decline.
Share this story:
