Christmas all time low on the High Street
Last updated at 22:12 18 January 2008
Department stores suffered their worst Christmas for 13 years, official figures revealed.
Discounts of up to 75 per cent at some of the country's biggest chains failed to get consumers spending.
Families have been squeezed by the impact of rising mortgage costs and household bills, particularly for food and transport.
The volume of sales at "non-specialised stores", such as department stores, slumped 4.3 per cent in December from the previous month.
It is the biggest monthly fall since February 1994, according to the Office for National Statistics.
One of the biggest losers at Christmas was Marks & Spencer, which is widely regarded as the bellwether of the High Street.
Overall, the ONS figures showed the volume of retail sales in all shops slumped 0.4 per cent between November 25 and Christmas Day.
Economists said that the dismal conditions mean an interest rate cut, from the current 5.5 per cent, is even more likely next month.
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