Blog: Why food can withstand an economic chill
Dean Best | 6 December 2007
Let’s not forget – food is a necessity.
So, amid all the worries about this year’s “credit crunch”, a weak housing market and declining consumer confidence, perhaps packaged food companies are well-placed to withstand any economic ill-winds that blow their way.
Today (6 December), an interesting report reached our desks from international debt ratings agency Fitch’s.
In the report, Fitch’s was quick to reassure the food business that, as consumers tighten their belts, food is an area unlikely to suffer.
“With the weak housing market and its negative ramifications on consumer spending, there will be tightening of discretionary spending,” the agency tells us. “However, due to the non-discretionary nature of packaged foods, there should be little negative impact overall.”
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