JUL 23, 2013 – BY COUNSELOR
While Prince William and the Duchess of Cambridge Kate Middleton welcomed their baby boy to the world yesterday, many in the United Kingdom marked the occasion by purchasing a bevy of promotional and commemorative items. In fact, analysts in the country were predicting that the Royal birth would provide a boost for the country’s economy.
“The impact on the U.K. economy is likely to be limited – albeit overwhelmingly positive,” Howard Archer, chief U.K. and European economist at IHS Global Insight, said in a research note. “At the margin, the royal birth may provide the economy with a temporary, small positive boost at a time when it seems to be increasingly moving in the right direction.”
According to the U.K.’s Centre for Retail Research (CRR), the royal birth will boost retail sales by $372 million between July 1 and August 31, with $239 million of that expected to be spent on memorabilia and promotional products. “The most obvious support to the economy coming from the royal birth will be some boost to retail sales through people buying souvenirs and commemorative items,” said Archer.
For a gallery of items that people in England are purchasing to mark the birth of the Royal Baby, click here.
Source From: BY COUNSELOR