The Kate Affect! Kate Middleton's Birth Set To Rake In '£240 Million For The Economy'

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While we all excitedly count down to birth of Kate Middleton and Prince William’s first baby, it looks as if the arrival of the new heir is going to provide the economy with a massive £240 million boost, with predictions the UK will splurge out to celebrate.

Joshua Bamfield, director of the Centre for Retail Research has estimated that Brits will spend millions toasting the new arrival.

Kate Middleton's baby is set to give the economy a massive boost (WENN)

He told the Metro paper that the rise in spending will see 4.8million people shell out £62million on alcohol and a further £25million on food for parties.

Meanwhile, £156million is predicted to be spent on souvenirs, including toys, books, DVDs china and other items.

Another area set to see an increase in sales, according to Bamfield, is the sale of baby products purchased by the Duchess of Cambridge.

"One of the biggest factors will be the unintentional royal brand endorsement," he said.

"The Kate effect has already taken the fashion world by storm – and this trend will follow for the infant’s baby grows, rattles, first bike and so on. This is a good news story and there really is no downside.

"With the birth coming in July, people will have time to get involved, and that means additional spending."

With just weeks till her due date, it seems that expectant mum Kate has retreated to her family home after being spotted spending Father's Day with dad Michael at the Middleton's Berkshire home on Sunday.

A eyewitness spotted the eight months pregnant royal at a gas station nearby, telling E! News: "I was getting petrol too and she offered to let me go first. She was really sweet...She was lovely, I guess she was visiting her family."

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