UK Money News
20th November 2007
Poor Christmas sales 'would be bad for 2008'
A poor festive retail season this December would not bode well for the consumer market in 2008.
According to the British Retail Consortium (BRC), a slow Christmas would demonstrate the degree to which consumers are worried about needing help with money or falling into bad credit.
"The prospects for next year really depend on interest rates being cut and then that leading to people feeling better off and actually being better off," head of media at the BRC Richard Dodd explains.
He added that people restraining themselves over Christmas would not mean necessarily that they would be better off in the following year - rather it would likely be an indicator of increased pressure to find help with money in 2008.
The finance news follows a report from the BBC suggesting that John Lewis is suffering "a severe trading slowdown in the run-up to Christmas".
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