GUERNSEY’S high street has made a battling start to 2008, according to the Chamber of Commerce. Figures released by the British Retail Consortium show that UK sales have posted their worst fall in almost two years.
The BRC said March’s figures, which had declined by 1.6% from a year earlier, were the worst since July 2005. But a Chamber retail sub-group spokesman said the island’s retail sector in and out of Town had been resilient before and after Christmas.
‘Into the first quarter of this year, the post-Christmas and Easter sales have done nothing to lift the UK high street performance but we have not seen the same in Guernsey. ‘There is nothing to suggest that retail is suffering in any way like in the UK.’
The spokesman said the island’s isolation from the UK played a part.
‘We recognise there are still some empty shops in St Peter Port and that high rents are causing problems for some in Town, but the majority seem to be doing fairly well.
‘The credit slump has obviously had an impact in the UK and banks have cut back on consumer lending through credit cards, which means the person in the street has less to spend.
‘Although Guernsey to some degree reflects the economic factors in the UK, there is no real decline being seen.’
He added that any slight constraint seen in future consumer spending patterns would most probably be down to local factors such as zero-10 and increased social security contributions.
Article posted on 17th April, 2008 - 1.00pm
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