STAFF REPORTER

PALMA
THE small to medium-sized business association of Majorca (Pimeco) reported yesterday that in the second week of the summer sales, 50 percent of shopkeepers believe that takings are worse than they were during the same period in 2008.

The Pimeco research, which covered trading both in Palma and in outlying areas of the island, reflects the fact that 36 percent of shopkeepers interviewed believe business had been about the same as the summer sales in 2008 while only 14 percent said they had been better.

Pimeco assessed that 72 percent of traders across the island had not had their expectations met by the second week of the sales whilst 28 percent claimed they had done well. In the case of Palma, 88 percent were disappointed whilst 62 percent in outlying areas claimed results were not good. Anticipating the third week of the sales, none of the interviewees predicted trade would pick up. In fact in Palma, 62 percent said they believed things would continue along the same lines and 38 percent even forecast business getting worse.

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