Sales of large big-ticket appliancesfall as households rein in spending
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Research out today shows that spending on durable consumer products such as white goods has fallen, amid fears that the recent credit crunch is starting to affect the high street.
The data, from consultancy GfK, shows the growing effect of interest rate rises and market uncertainty has added to consumer fears about spending heavily on big- ticket items.
GfK said sales growth in the consumer durables market was just 1 per cent in September compared with the same month last year. That followed a rise of only 0.7 per cent in August. It is the first time that the market has grown by less than 2 per cent in consecutive months since 2005.
The downturn has been most noticeable in major domestic appliances, which have shown negative growth of 4 per cent over the past three months.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments