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Retail activity 'falls severely'

Consumers appear to be abandoning the High Street

Retail activity on the UK's High Streets fell "severely" last week, according to research group Footfall.

Its Retail FootFall Index for Monday, 9 January to Sunday, 15 January, was down 10.9% compared with the week before, and down 5.2% on the same week in 2005.

Footfall put the declines down to people focusing instead on paying off festive debts and 2006's first bills.

Sales figures for the Christmas period have been very mixed, with some shops performing well and others well down.

"We would not... have expected this fall to be as severe

Footfall's Natasha Burton

Companies who have had a very good festive season include Tesco, Marks & Spencer, House of Fraser and Carphone Warehouse; while others such as HMV, Next and Thornton's have reported doom and gloom.

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Guest Charlie The Tramp

Wait for their old cry of got to cut IRs

Does not look good for them.

So we wouldn’t be banking on an interest rate cut just yet.

And another reason we wouldn’t be banking on a cut anytime soon is because the good Governor is clearly still worried about high property prices – and runaway prices in equities, bonds, gold and just about any other asset you care to mention.

Mr King, like his US counterpart Alan Greenspan, can’t work out why long-term interest rates are so low. The interest rate on long-term UK government bonds is at its lowest level for over 50 years. The real interest rate on a 20-year inflation-linked UK gilt is now 1%, compared to a range of 2% to 4% over the past 25 years.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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