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Article: FED MOVES SEEN DEFLATING HOME GOODS SALES GROWTH.
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- September 25, 2000
- Author:
CopyrightCOPYRIGHT 2000 MacFadden Communications Group LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK-Home furnishings retailers can expect sales to continue moderating for the near future, thanks in part to the Federal Reserve Board.
According to a report released last week by PricewaterhouseCoopers, the Fed's efforts to cool a white-hot economy by dowsing it with six interest-rate hikes over the past 11 months is succeeding, but the price of avoiding high inflation is a negative impact on retail sales.
In the report, Frank Badillo, an economist at PricewaterhouseCoopers' Retail Intelligence System, said nominal sales growth for home furnishings retailers would hit bottom by the early part of 2001 before leveling off at between a 5 percent and ...