Lack of demand puts pressure on retailers

Nov 12, 2009
From wire reports

TALLINN - Estonian consumer prices had their worst month on record in October as the recession has cut into demand forcing retailers to offer steep discounts, reports Bloomberg. Consumer prices slid 2.2 percent from a year earlier. This follows a decrease of 1.6 percent in September. The median estimate of five economists in a Bloomberg survey was for a 2.1 percent drop. Prices dropped by 0.1 percent from the month earlier level. Estonia’s GDP slid 16.1 percent in the second quarter from t ...

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