Palma de Majorca/Madrid.—The association's comments came in the wake of a report by the National Institute of Statistics (INE)confirming that takings in small to medium-sized commercial outlets slumped by 6.8 percent last month compared to the same month in 2010.

In November, total income declared by Pimeco was in the region of 227 million euros compared to 227 million euros for the same month last year.
All sectors of the retail trade reported losses this November but it was the hypermarkets and large department stores which suffered the least, reporting a downturn of just 2.7 percent in comparison with nearly -7 percent for the whole of the sector.

The INE said in its report that up until the end of November, retail trade on Majorca has accumulated 45 million euros worth of losses in comparison with the first 11 months of 2010.

Not only were figures for November down on last year, said the INE, but were also 38 million euros less than takings for October this year. Pimeco said however, that the slump between October and November is typical of the economic cycle on Majorca due to the end of the tourist season.

The story is slightly different, said the Insitute yesterday, with regard to regional employment in the sector. Over the first 11 months of the year, it has risen by 0.6 percent and last month by 0.8 percent in comparison with November in 2010.

The figures contrast with the rest of the country where there has been an accumulated downturn in employment in the retail sector of 0.4 percent over the same period.


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