Chris Forrester, on 17-09-2008
Investment bankers Morgan Stanley – one of the few major names left standing following this past few days’ turmoil – has issued its weekly Trendspotting snap analysis of the world’s economic indicators. There is some gloomy reading.

Fred Bjelland (Retail analyst) talks about Kesa Electricals having reported lower than expected sales on the back of a rapidly falling electricals market. The slowdown has been most notable in white goods, which is the most housing-related electricals purchase, while grey goods and TV sales have held up OK. Given the housing-related nature of the problem, sales have fallen most rapidly in the UK where white goods sales are down 12-13% on last year.

In France, the white goods market is down just 1-2% reflecting a less leveraged consumer and more stable market conditions.

Spanish electricals sales are 'the worst I have seen in my entire life" according to Group CEO, which is somewhat worrying seeing he will celebrate 30 years at Darty (the French business) next year.

Source: Rapid TV News 2008

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