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Article: Shoppers buoy up economy despite US attack worries
- Article from:
- The Evening Standard (London, England)
- Article date:
- October 18, 2001
- Author:
CopyrightCopyright 2001 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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THE 11 September terrorist attacks on the US have failed to dampen
Britons' enthusiasm for shopping, boding well for the economy's
ability to avoid recession.
Despite reports of a 30% drop in department store sales
immediately after the attacks, official figures today showed overall
retail sales volumes increased by 0.2% during September. The year-on-
year rate of increase nudged down from 6.5% in August to a still-
healthy 5.9%.
"Any concerns that consumers were about to be derailed appear to
have so far been misplaced," said economist David Page at Investec.
"The Bank of England is likely to be thankful that ...