High hopes jostle with uncertainty

Walking around mid-town New York in December is always a chore. And the 15-block section of Fifth Avenue south of Central Park is the worst of the lot. Last year was no exception. Despite the creeping economic gloom of the past 15 months, despite the huge personal and economic costs to New York of the attacks on the World Trade Centre in September, there were still hordes of Christmas shoppers crowding the streets.

Walking around mid-town New York in December is always a chore. And the 15-block section of Fifth Avenue south of Central Park is the worst of the lot. Last year was no exception. Despite the creeping economic gloom of the past 15 months, despite the huge personal and economic costs to New York of the attacks on the World Trade Centre in September, there were still hordes of Christmas shoppers crowding the streets.

Inventory was certainly shifting.

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