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Sales at Greggs' High Street stores were hit by the heavy rain and flooding seen in December.
BBC: Greggs' Christmas trading hit by wet weather
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Narberth has been particularly badly hit with fire crews reported to be battling flooding in the high street and the Narberth bridge area.
BBC: Diverted traffic sign
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Furniture sellers, whose health depends less on seasonal sales and more on the overall state of the economy than most high-street shops, have been hit hardest.
ECONOMIST: The economy