British Retail Consortium says consumers have no confidence

Consumer confidence keeps declining in the UK, according to reports from Nielsen and BRC (British Retail Consortium).  At the heart of the decline are worries about personal money and jobs.

Around half of those consumers surveyed said that their personal finances were not good. Thirteen per cent said they were experiencing trouble money-wise. Nearly fifty per cent rated the economic outlook for the country as not good, while another twenty-six per cent said the economic outlook was bad.

Nearly a third of Britons asked said the economy was the main problem facing the nation. About twenty per cent expressed concern over rising energy costs, while the same number cited climbing food prices of equal concern.

Still, another twenty per cent of those asked were seriously concerned over personal debt, with good reason it seems, as the total personal debt is now higher than the country’s GDP.

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