But Adrian Farrell, who is also manager of the Meadows Shopping Centre in the town, is less confident about events beyond January.

“February and March will tell the tale,” said Mr Farrell.

Speaking following a traders’ meeting on Tuesday morning, he said, “I’m not making any rash forecasts about Christmas 2008. Obviously the upheaval of the world’s banking system is going to have an impact, though thankfully there are some signs that things are starting to settle a little after all the recent turmoil, so I take heart from that.

“Banking seems to have calmed down a bit and, psychologically, last week’s 1.5 per cent cut in interest rates was very good news for consumers. People with tracker mortgages, for example, are going to be quite a bit better off as a result of that.

“Petrol prices have come down, too, so little by little there have been things happening to make us all feel a little better.

“I’m not suggesting that it’s going to be a Christmas of huge spending, though I do think people will make an effort to enjoy it. So while I don’t think there will be any spending records set, I reckon we’ll be okay.”

He also pointed to the availability of what he called “some incredibly good deals at the moment”.

“There are all sorts of offers and some really big savings for anybody who is lucky enough to have a few pounds at this stage,” he said. “They’re in a position to take advantage and these offers are right across the board in a wide range of goods. So in the current climate, if you’ve got a little spare money, it will go a very long way.”

But repeating his misgivings about the late-winter/early-spring period, he forecast, “I think the real test is going to come once we’re through January. People will spend at Christmas and they’ll spend in the sales.

“But February and March could be different. That’s going to be the tough time, I think.”