The Duke and Duchess of Cambridge are expecting the birth of their second child any day now. The birth of a brother or sister for Prince George will of course delight the royal family and the nation but the safe arrival of the new baby will also boost to the UK economy.

A royal birth is certainly going to have a positive effect on the UK economy, said Michael Ingram, economist at BGC Partners in Londons financial district of Canary Wharf.

It will engender what everybody calls the feel-good factor and this is likely to manifest itself largely in the retail space, consumers are likely to be out there spending a little bit more money, certainly retail outlets, pubs, restaurants will see the benefit in the form of increased purchases of food and drink. There will be memorabilia sales of course.

Experts predict the economy could be boosted anything from between £70m ($104.6m) and £250m.

At the time of the birth of Prince George two years ago, the Centre for Retail Research estimated that that birth would give us something like a £243m boost to the UK economy. I think we can expect a similar sort of figure this time around, but given that the UK economy is £1.9tn I would say, although welcome, it is not going to be anything more than, dare I say it, a useful bump.

If Kate has a little princess this time, it is even better news for the economy, analysts say, as female royals traditionally give trading an additional boost.

The duchess is due to deliver her baby at the same hospital where Prince George was born, the Lindo Wing at St Marys Hospital in London. The reported due date is the weekend of 25-26 April.