Britons ‘pessimistic’ about economy

Britain may be out of recession, but most people are pessimistic about the economic outlook.

A study by BlackRock has found 69 per cent of adults take a downbeat view of the prospects for the economy over the next six months.

This is reflected in the spending decisions some make, with 56 per cent unwilling to take risks, while 77 per cent of people are saving cash and 36 per cent hold more than they did a year ago.

While that may give some people a cushion against adverse circumstances, those who are in debt may be finding it very hard to put money away.

Debt consolidation measures could help with this, by reducing monthly repayments and bringing forward the day when people can afford to put some of their money away ion in savings for a rainy day, emergencies or retirement.

Widespread negative feelings about the economy and personal finance were also apparent in a Go Compare study published last week, which found 49 per cent of consumers saying they are worse off than a year ago.

Posted by Paul Thacker