Christmas spending won’t be as low as expected, a survey out today claims. The report from Deloitte says 57 of consumers intend  to spend the same amount as last year, while 19 per cent say they will spend more.

The figures go against findings from organisations such as Business Research, which yesterday said British customers in total will spend £300 less this Christmas than they did last year.

Tarlok Teji, head of retail at Deloitte, said: “Talk of Christmas being cancelled this year is overplayed. Yes, spending might be broadly flat, but this is not a doom and gloom story.”

In London, gifting and socialising spending are all forecast to be higher than last year.

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