Xmas retail sales plunge in US - poll
28-12-2008
Christmas retail sales plunged in the United States. According to a new poll, sales dropped by nearly eight percent for the traditional November-December shopping period, making it one of the worst holiday shopping periods in decades. Japan also reported record cuts in production; and there are more signs that Spain has entered recession.A leading think tank in London also forecasts that the British economy will shrink by 2.9 percent next year, in the biggest contraction since the end of World War II-as retailers slash prices in a bid to boost post-Christmas sales.
