As many as one in three British consumers have confessed that hey are seriously concerned about the current state of the UK economy, it has emerged.
Figures from the British Retail Consortium (BRC) show that a record number of people around the country are feeling pessimistic about the economy, with rising inflation and falling property prices cited as major causes.
The struggle many borrowers are facing in their efforts to become debt free are also thought to have added to the negative sentiment in the UK and a fifth of those polled said they now have no spare cash at all.
“It’s clear we are seeing the effects of customers’ concerns about the future and about their own levels of debt,” said the BRC’s director general Stephen Robertson
A recent report from the estate agents Chasterton has indicated that the East Midlands was the only region of the UK to see an increase in average property prices over the course of last month.
Written by Davina Willis