Market traders in Newton Abbot have said business is thriving despite the recession and its impact on big name retailers.

The district's capital has lost several major stores in recent months including children's clothing firm Adams, The Card Warehouse and fashion store Select.

Local names to go under include the Nigel Green estate agency business.

But the grass roots traders who visit Market Square each week say they are bucking the trend.

Spokesman for the outdoor market, Lee Branson, said: 'We're doing very well and can't complain at all.

'It's been good all year with plenty of people visiting. We've put in a lot of work, keeping contact with the coach drivers and making sure they are looked after with a meal and a cuppa, and that's paid off as we're getting plenty in now.

'Teignbridge Council also helped by agreeing to drop the rents for the first part of the year. Although we know they've got to go back up again to make up the difference, having the lower payments at the beginning of the year meant not only did traders stay with the market, new ones joined too.

'The market here in Newton Abbot is doing much better than those in places like Dartmouth and Kingsbridge.'

Town development manager Sally Henley said: 'The market is the heart and the lifeblood of the town and I will do whatever it takes to maintain its viability. Generally Newton Abbot is doing well compared with other towns and empty shop units are being taken up.'

A spokesman for the district authority confirmed that 14 coahes visited the town on market days.

Kevin Gilding, Teignbridge Council's Service Lead for Economic Development said: 'Last year we set up a Credit Crunch Commission with private and voluntary sector partners, with a view to supporting local people and businesses throughout the recession.

'As part of this work we've been very happy to assist the outdoor market traders by lowering rent throughout January, February and March, when gloomier weather usually means less trade.

'We've also frozen rents for both the indoor and outdoor markets at last year's rates.

'In economically tough times Teignbridge is committed to doing its bit to support local businesses and residents, and it's good to know that the community is also supporting our local traders.'

The good news was boosted by Devon County Council which said there were 'small signs' of recovery.

The number of people out of work and claiming job seekers allowance in Devon levelled off last month at 2.6 per cent, around 11,400 people. The FTSE 100 index has risen continually from the beginning of March and the Dow Jones had reached levels not seen since January, suggesting a more positive global outlook. Retail sales are up 0.3 per cent on last month and nationally mortgage approvals have increased.

Agricultural output was up 0.3 per cent

Director of planning, infrastructure and economy at Devon County Council, Graeme Bell, said: 'One swallow does not make a summer, but the evidence points to a slowing of the recession in Devon and this is welcome news.'