Slowdown in local economy forecast to be over by 2010

September 12, 2008

By Tom Robbins

The local economic slowdown, which had "no dramatic implications at all", was expected to be over by 2010, resulting in a return of buoyant consumers, according to a report by researcher Planet Retail.

In a report titled Sizing Up the Crunch: World Retail Outlook 2008, released this month, authors Boris Planer and Sarah Herrlein say that consumer price increases should slow down markedly from next year.

This, coupled with rising employment due to high commodity export prices, would lead to economic growth picking up from about 4 percent to "closer to 5 percent" in 2010.

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