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Festive spending hits highs and lows in Europe

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Festive spending hits highs and lows in Europe

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Christmas cheer was in short supply for Italian retailers. As analysts say austerity measures prompted households there to cut spending.

The shoe and clothing sector was worst hit with Italians spending 48 euros less than the average of the past five years.

In the UK a strike by London tube workers hit the traditional Boxing Day sales experts predict a boom today with over three billion euros expected to be spent.