January sales attract shoppers in droves

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January sales attract shoppers in droves

LONDON, UK - New figures show shoppers have been out in force since the New Year, despite concerns about slow pre-Christmas retail sales.

Retail monitor FootFall claimed yesterday that the first week of 2004 saw a 2.4 per cent increase in visits to the UK's big retail centres than the first week of 2003.

By contrast, FootFall calculates that December saw 1.5 per cent fewer shoppers on the high streets than in 2002.

Marketing manager David Smyth warned, however, that the change in fortunes may be short-lived.

He told the Evening Standard newspaper, “'Activity will be under pressure as credit card bills start to drop through people's doors and the harsh realities of the total cost of the Christmas period are realised.”

FootFall's figures also reinforce the expectation that interest rates will have to rise this year, although it is widely thought that the Bank of England Monetary Policy Committee will leave interest rates unchanged when they make this month's announcement at noon today.

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