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Trade News Archive 2008 December November October September August July June May April March February January
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2nd December 2008
Little hope for Christmas shopping boost
With high street sales falling more sharply than many had expected, new research suggests that hope is dwindling for a Christmas retail boost this month.
According to the Confederation of British Industry (CBI), the retail sector is the most subdued over the Christmas trading period it has been in the last 25 years.
The country's largest lobby group surveyed some 185 firms - including small and local retailers - and learned that 40 per cent more vendors expect a year-on-year fall in sales figures during this crucial month than a rise.
Furthermore, only 16 per cent of firms said that sales were higher during the first half of November compared to last year, while 62 per cent said they were lower.
"Christmas is going to be extremely tough this year, with retailers having to work harder than ever to keep the tills ringing," said Andy Clarke, chairman of the CBI's retail sales panel.
Last month, the CBI called on the government to do more to keep businesses working, safeguard jobs and position the economy for a recovery.
(c) 2008 Adfero Ltd.
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