Gloomy August for clothes shops
More signs that Sweden's economy is weakening came today, as sales of clothing and shoes fall by 3.9 and 5.2 percent in August, compared to the year before.
The head of the umbrella organisation for the clothing industry, Mikael Sandström at Svensk handel Stil, says that consumer demand is weak, and that shops are also trying to sell more of their clothing at full price, instead of having sales. He says to news agency TT that last year clothes sales fell by 7.7 per cent and shoes by 7.2 percent. "If we don't see an improvement this September then it will continue to be a tough time for the fashion trade."
The Swedish media industry association also reports that advertising sales fell by 13 percent in August, compared to last year, with television advertising faring even worse, falling by 23 percent.