£70 billion spree is in fashion

Fake fur, denim and party clothes will be among the top sellers on the high street as Christmas shoppers are set to spend £70billion between October and December, researchers say.

An expected £31.3billion spend next month will be the highest monthly spend on record.

Most will go on fashion clothes, electronic goods and homeware, says retail research organisation Verdict.

The strong housing market, low unemployment and low interest rates are all boosting spending with DVD players and DVDs high on shoppers' lists, along with plasma televisions and games consoles, it says.

But despite the forecast record spend, the increase on last year is expected to be the lowest since 1999.