“Santiago Retail Sales Climb 25% From a Year Ago, Chamber of Commerce Says” |
| Santiago Retail Sales Climb 25% From a Year Ago, Chamber of Commerce Says Posted: 26 Aug 2010 07:40 AM PDT Retail sales in greater Santiago rose 25 percent in July from a year earlier as stores cut prices at the end of the winter, Chile's Chamber of Commerce said. Retail sales have increased 17 percent this year, the Chamber said today in an e-mailed statement. It raised its forecast for sales growth this year to 12 percent. Chile's economy is growing at the fastest pace in five years as it pulls out of a 2009 recession and recovers from February's earthquake. Rising employment, higher wages and easier access to credit have boosted sales even as cheaper imports lower prices for clothing, shoes and electronic goods, the Chamber said. "The factors that have contributed to this positive scenario are better prices for products sold, better availability of credit and the rise in employment and the level of salaries," the Chamber said. Sales of items such as televisions and DVD players slowed after a boom in May and June as Chileans prepared to watch their national team's first performance in soccer's World Cup tournament for a decade. Sales of white goods such as dishwashers expanded 30 percent from a year earlier in July. Sales of women's clothing rose 45 percent as prices fell 19 percent, the Chamber of Commerce said. To contact the reporter on this story: Sebastian Boyd in Santiago at sboyd9@bloomberg.net This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
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