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Credit crunch cuts deeper – PRimage comment « PRImage

Credit crunch cuts deeper – PRimage comment

PRimage is concerned to see that the impact of the credit crunch and looming recession is taking its toll: according to new stats from the European Commission, the UK economy will shrink in the second half of this year, pushing¬†our country¬†into recession for first time since early 1990s. Judy Viitanen has seen further evidence today of how retailers are suffering in this current tough consumer environment: Argos and Homebase report that the credit crunch has knocked their sales. And department stores and supermarkets group John Lewis show a 27 percent drop in first-half profit – and are cautious about the outlook for the rest of this year and 2009. Watch this space for more reports on the impact that the UK and global crunch is having on business and consumers….

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