We all have become immersed in this Christmas ritual, a ritual quite expensive ritual to say the least the Christmas shopping. You either love it, or hate it, but without it our economy gets shut down from a very vital financial life line. But this year this financial life line was more imperative than ever, with the eurozone depression in full swing by December, economists thought that Christmas 2011 was ruined.
Thankfully these thoughts were nullified, with a retail rise in sales by 0.8%. This rise is needed to make sure that as an economy we survive 2012 and that we do not slip into the state of our European counterparts.
This rise was driven by our passion to shop for clothes, with a 6.3% increase in clothing and footwear from last year.
This news is so important if we are going to sustain our growth and for the ‘big society’ idea to become a reality. Without an economic platform for our society to develop from, we will return back into a recession, which would bring glee to the Labour party. Furthermore, it gives small businesses the confidence to set up and expand. This confidence is what is needed to depart the financial mess.
But we are not just out of the woods yet, 2012 will be a testing time for George Osborne and the UK economy. Although this is good news we still need to watch our spending and personal finances.
