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Trade News Archive 2009 January February March April May June July August September October November December
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11th January 2010
NI retailers suffer despite increased footfall from Eire
Retailers in Northern Ireland (NI) suffered a sharp downturn before Christmas, despite an increased number of consumers visiting from south of the border.
That is according to a survey by Ulster Bank, which shows that there was a widespread decline in the economy in the run up to Christmas, but that the retail sector in the north was particularly badly hit, reports the Irish Times.
Such a decline will have come as a surprise to many small retailers who would have anticipated a lucrative holiday season, especially with Republic residents looking to make the most of the euro-sterling exchange rate.
Richard Ramsey, the bank’s chief economist in the North, said that while there had been a couple of success stories, these were not indicative of the norm.
He told the news provider: "The clear out performance amongst some firms in certain locations is masking the general malaise in the sector as a whole."
Mr Ramsey went on to say that many retailers had blamed lower volumes and unfavourable trading conditions for the December depression.
© 2010
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