Financial Times FT.com

Wal-Mart sees spread of consumer austerity

By Jonathan Birchall in New York

Published: August 15 2008 03:00 | Last updated: August 15 2008 03:00

Wal-Mart, the world's largest retailer, said yesterday it was seeing evidence of the slowdown in US consumer demand spreading to developing markets as customers deal with increasing food and energy costs.

Lee Scott, chief executive, said Wal-Mart was seeing "a global economy that is difficult".

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