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While today’s decision by the Bank of England MPC was literally a no brainer it does not help the thousands of home owners who are struggling to make ends meet. As we read another report from the...
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Wednesday 21st May 2008
After a number of years when growth was flying high and life on the high street was very lucrative, it seems that we are now entering a very different scenario. Retails sales for April are expected to show a further decline of around 0.5% (the second consecutive month of falls) which will bring the annual rate of sales growth on the high street back to around 4%. So what does the future hold?
Many in the market expect to see a period of great difficulty on the high street with more and more of the smaller stores seeking additional financing or assistance from administrators. MK One is the latest companies to hit the rocks after seemingly being saved just 3 weeks ago and there are rumours that more will fall in the short to medium term.
There is always a time lag before an economic slowdown actually hits the high street as more and more consumers come to terms with having less money in their pockets. Much like turning a big ship it can be difficult to change the situation once retail sales start to fall off as there really is no quick fix for the consumer.
Already many analysts are looking towards Christmas with many unsure whether Father Christmas will even appear this year! |
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