Wool gloom
30/10/2008
Falling wool prices around the world have prompted the executive manager of New Zealand's Council of Wool Exporters, Nick Nicholson, to predict tough times ahead.
Mr Nicholson told local media that the global economic crisis had come on top of existing pressures within the wool sector. He said there were signs retail sales were slowing as consumers prioritised their spending, and added that exporters in New Zealand feared their key markets were entering a recession.
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