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Retail outlets in the main Buckinghamshire towns
have not reported any major downturn in shopping
levels following the Bank of England's now almost
monthly hypes in interest rates. A straw poll
of shops in Milton Keynes, Aylesbury, Buckingham
and a number of other centres, suggested that
there had been a levelling off of trade, but no
positive drop.
This virtually reflects the whole nation's reaction
to the interest rate rises which, if anything,
have not even scratched the surface of the continued
consumer boom.
According to a CBI "distributive trades survey",
larger pay packets, low unemployment and the continued
buoyancy of the housing market, actually it caused
retail sales to rise last month to the highest
level in over two years.
Throughout the UK two-thirds of retailers, says
the CBI survey, are even optimistic that next
month sales will be above the figures for the
same time last year. Competitive prices are keeping
prices low, encouraging shoppers to snap up bargains
but this is squeezing retailers' margins.
This is causing them to back off investment and
lay off staff.
Andrew Leech, Cross Reference Tel: 01753 884216
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