Job fears fuel crisis in confidence
Frightened about your job prospects? Join the club. Fears about losing your job are higher in the UK than in many other parts of the globe. And in the first quarter of 2011, the GB Consumer Confidence Index dipped sharply.
Chris Morley, group managing director of Nielsen UK & Ireland said: ‘The long hard winter and continuous media coverage of UK debt levels and cuts in the public sector are all taking their toll on consumer confidence in the UK. I would envisage a continuation of lower confidence as consumers are still being very cautious in their spending intentions.’
British Retail Consortium director general Stephen Robertson said: ‘Nearly a third of people now say they have no spare money because households are suffering a squeeze between high inflation and low wage growth. In real terms, disposable incomes have fallen for the first time in 30 years.’