Decline in Sales of Bubbly Means Thrifty Times
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The New York Times recently reported a drop in champagne sales in all the top markets, particularly the United States, Britain and Japan. “When champagne sales are going down and prices being cut, even in the midst of a 60-percent-plus rally in the stock market, you know that we are into a secular theme of thrift, even among the well heeled,” says David Rosenberg, chief economist and strategist with Gluskin Sheff.
