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Manufacturers blame unemployment, a lack of confidence and credit restrictions.

Traders are pinning their hopes on the January sales which promise some substantial discounts amid reports that many people put off spending before Christmas.

The government says more than 4.4 million people were out of work; the national statistics body puts the figure at nearly five million.

Labour Ministry said the figures confirmed the deterioration in the country’s economic situation over the second half of the year.

According to salvage unit manager David Billington it is too dangerous to recover the cargo: “It’s still considered too hazardous to actually dive on the wreck.

For obvious reasons now, there’s probably going to be a great deal of torn steel.” Authorities are anticipating more oil from the wrecked cargo ship will reach the shore by Thursday.

Dakar legend Peterhansel – a six-time motorbike and three-time car champion – holds an advantage of almost six minutes on Gordon, a NASCAR veteran, entering the final five days of the race More about: Cars, Dakar, Motorcycling, Motorsport, Other sports, Rally Spain jobless reaches record high since crisis began Unemployment in Spain rose for the fifth month in succession in December to a new record since the crisis began.

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More than 100 containers have floated away since the ship got into trouble in early October.

Remaining containers are still stuck on Rena since weather conditions caused the breakup on Sunday.

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