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With consumers reining in their spending on all but essential purchases, the BRC said total sales in March were down 1.9% on a year ago in the biggest decline since the start of the trade body's monthly survey in 1995.
Retailers have issued a string of gloomy updates in recent weeks, with Mothercare, HMV and Currys and PC World parent Dixons Retail all warning on profits and others highlighting testing conditions.
Chains are feeling the pinch after household spending power suffered its first fall in 30 years as wages fail to keep up with uncomfortably high inflation.
A second survey released Tuesday reinforced the downbeat message, showing house prices in England and Wales fell in March, although at a slower pace than in February.
The Royal Institution of Chartered Surveyors (RICS) said 23 percent more surveyors reported a fall rather than a rise in property prices in March, compared with 26 percent in February.
Originally posted by Danbones
no
The US is so far down
the bottom of a depression looks like up...
what you got here is NOT a depression
what you git here
is a good old fashioned
FACEPLANT
the depression is the hole in the ground with a receding hair line, blank eye spaces, and a nose dent.
Originally posted by solargeddon
reply to post by gandalphthegrey
With the way things are going business is about to become booming for you lol