The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

Swedish retail sector dealers feeling depressed about the future

Monday, 17 December 2012
Traders in the Swedish retail sector have seen their confidence plummeted and confidence in both sales and employment have fallen.
A new survey from the Swedish Trade Federation has exhibited this phenomenon.

"As in other parts of the Swedish economy, we see a rapid and alarming slowdown. In trading, competition is fierce and the weaker economy will quickly lead to reduced employment and increased the number of bankruptcies," says Dag Klackenberg, President of the Swedish Trade Federation in a statement.

In the survey, traders were also answering questions pertaining to the future i.e. for the next year, which also indicate depressing reading in terms of wages and employment. Eight out of ten traders respond that there is less room for wage increases now compared to previous months.

"In the current economic climate, the scope for wage increases is limited. High wage increases in trade would lead to higher unemployment, lower profitability, and higher prices. For a small shop with small margins, it may jeopardize the survival of the company," says Dag Klackenberg, CEO of the Swedish Trade Federation.
By scancomark.com Team

We welcome your contribution. Did you find anything wrong with this article? Do you want to contribute to our news network? Do have a news tip or assist us with a correction?