consumers show restraint

The World Federation of Diamond Bourses, which represents 28 affiliated diamond bourses worldwide, said yesterday that initial reports from major markets indicate that consumer spending during the 2009 holiday season had fallen at some of the steepest rates seen over past four decades. "Consumers are shell-shocked at present, and as such they instinctively cut back on spending," federation president Avi Paz said. - I-Net Bridge

The World Federation of Diamond Bourses, which represents 28 affiliated diamond bourses worldwide, said yesterday that initial reports from major markets indicate that consumer spending during the 2009 holiday season had fallen at some of the steepest rates seen over past four decades. "Consumers are shell-shocked at present, and as such they instinctively cut back on spending," federation president Avi Paz said. - I-Net Bridge

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