The fast moving consumer goods (FMCG) and beverages sectors are increasingly down-trading to value products as aggregate demand continues to weaken, reflecting underlying sluggish economic growth, analysts have said.
Household spending declined 11,8 percent in 2016, on the back of lower disposable incomes, as the economy grew by a marginal 0,7 percent, against a projected 2,7 percent, due to the effects of a bad 2015/16 season for agriculture.
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