PALMA
THE small-to-medium-sized Majorcan businesses association, PIMECO, declared yesterday that Spring/Summer sales this year have slumped notably - as a result, they claim, of the unpredictable weather in March and May and the uncomfortable fact that people just don't have the same amount of money for spending in the current economic climate.

PIMECO's findings were released in their monthly report after interviewing some 200 business owners based on Majorca. It would seem that results for the Spring/Summer 2008 sales have been worse than those for the Autumn/Winter and Spring/Summer sales for the previuos year. More bad news showed that outside of the sales periods, trading figures averaged out as having fallen by 20 percent. The report shows that where there was any sucess at all this year during the sales, it was almost always linked to shops in the centre of Palma. Other districts and outlying areas of the island claimed to have fared very badly, and indeed in some cases, the sales period in July had proved less profitable than for the month prior to the bargain period beginning. PIMECO said it was witness to a clear downturn in profitability.

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