World Economy

Spaniards on Shopping Spree

Spaniards on Shopping SpreeSpaniards on Shopping Spree

From department stores to delicatessens, Spanish retailers are anticipating their best Christmas in years as shoppers gear up for a spending spree that should help extend an economic recovery and boost a struggling jobs market, Reuters reported. Tax cuts, low inflation and falling energy prices have helped bump up stretched family budgets this year and, with a national election due next month, the government will hope the positive effects of a Christmas splurge rub off on voters. Businesses believe this year’s retail campaign, widely expected to be the most successful since 2008 when the downturn began, may also mark the turning point the country has been hoping for since it exited recession in mid-2013. “Not everything that was lost has come back, and we’re not back to 2007 levels (in revenues), but some of it has been recovered,” said Alberto Marti, whose family-owned company produces gift hampers packed with Iberian ham and sweets, which businesses traditionally offer to their clients.