Sale of Wine Hit by Credit Crunch
Saturday, November 15, 2008 17:58Posted in category Economic Outlook
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In the face of the recent credit crunch, the property prices fell first, the stock markets soon followed and then, just this week the international art market appeared to crumble in the bad market condition.
Now it’s the turn of the wine industry, which is a supposed safe haven for investors for some time. The wine industry are finally feeling the full effect of the credit crunch with the biggest fall in wine prices for seven years. The sales of wine is hit as fewer people are going to eat in restaurants these days, which leads to less purchase from restaurants.
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