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Summary Box: Austerity curbs Europeans' Christmas

Source : AP
Last Updated: Thu, Dec 08, 2011 21:15 hrs

: Cities across Europe's southern rim are cutting budgets for holiday festivities, including Christmas lights.

LACKLUSTER SHOPPING: Consumers are expected to curb their spending for the holidays in Europe's indebted countries such as Ireland and Portugal. And in Greece, Christmas consumer spending is predicted to slump almost 25 percent.

BUT NOT GERMANY: In rich Germany, however, analysts expect consumers' holiday spending to rise nearly 5 percent.


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