Olympics misery for retailers
The Olympics feelgood factor spelled misery for retailers in August as the public was too glued to television coverage of the event to head down to the high street or even shop online, according to the British Retail Consortium.
Hmm. Retail spending is some one third to one half of the economy isn\’t it? £500 billion ish out of £1.5 trillion? £600 billion?
This slums during the Olymics showing that the Olympics give a decent Keynesian boost to aggregate demand. I think we might see a teensie problem with this idea, no?