Breaking News: General Election hit Christmas shopping
Christmas shopping was the worst since 2001 as the General Election appeared to stop people spending.
According to the latest retail sales index, last December shoppers spent an estimated $110 million, just 0.7 percent above 2006.
The report said: “This performance marked the lowest growth in December sales since 2001, as retailers pointed to the general election as the main reason for weakened holiday spending.”
In other areas, motor dealers said they experienced negative sales for the fifth consecutive month, reporting a decline of 16.6 percent.
The report said: “Weaker sales were directly attributed to lower stock levels. For the year, retailers of motor vehicles experienced a decline of 5.7 percent, following a 1.6 percent fall recorded in 2006.”
* See tomorrow’s Royal Gazette for the full breakdown.
