Italian retailers braced for 'lean' Christmas

December spending set to drop 3%

Italian retailers braced for 'lean' Christmas

Rome, December 4 - Shopkeepers in Italy are braced for a lean Christmas as the economic crisis continues to bite, retailers' association Confesercenti said Tuesday. In total Italians will spend 36.8 billion euros in the month of December, over 3% less than in 2011 according to a survey conducted in partnership with the polling institute SWG. Christmas spending is expected to drop by an estimated 2.7%, falling from 11 billion euros in 2011 to 10.7 billion euros this year. Nearly 70% of Italians said they would be cutting back on presents.

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