A retail expert has warned that while there may be some reason for optimism in the business and retail markets the worst may not yet be over.
British Retail Consortium spokesman Richard Dodd, warned that more job losses could follow in 2009 and that much would depend on the decisions made by consumers.
"There are a number of reasons why customers may receive a boost, but clearly conditions are extremely tough, so we can't say with any confidence that things are now as bad as they are going to get," he explained.
"They may well get worse before they get better. 2009 is clearly going to be a very, very tough year, particularly when it comes to jobs.
"Job losses tend to follow tough conditions rather than being the initial cause of the conditions.
"I think there is clearly worse to come when it comes to job losses, both in the wider economy and in retail specifically."
Job losses are often caused when companies are struggling with cash flow - a problem that can highlight problems in the business supply chain.
Companies may wish to investigate their supply chains to ensure that they are not haemorrhaging money there before wielding the axe with regards to staff.
