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UK retailers facing tough decade, Item Club predicts

BBC reports that UK retailers could be facing many years of poor sales growth, an economic think tank has said.

Consumer spending is expected to rise by only 2% a year in the 10 years up to 2020, according to Ernst & Young's Item Club.

Spending is being weighed down by debt repayments, restricted lending and high inflation, with the prospect of interest rate rises yet to come.

The effect is expected to be harshest outside London, the Item Club said.

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Post Date: May 16th, 2011