Consumers still concerned about debt problems
Consumers still concerned about debt problems
- Thursday, 20 May 2010Consumer confidence levels have improved but people are still concerned about job security, bills and
debt problems, it has been claimed.
GFK NOP, an international market research company, claims that it will be a long time before consumers feel the worst of the recession is over.
Ivan Browne, director of GFK consumer products and retail, believes financial confidence will remain flat until the financial impact of the election is known.
Mr Browne said: "There is a long way to go before consumers accept we are through the worst of the recession, which means retailers will continue to see a slow recovery in spending, particularly for major purchases."
He added that about one in five people are worried about losing their jobs. This could lead to concerns about
debt problems.
According to the British Retail Consortium on May 14th consumer confidence is at its highest level since November 2007.
There was an increase of three points since the survey was last conducted in December 2009.
However the economy is still the biggest concern for shoppers, followed by factors that directly affect household incomes. Increasing utility bills were the biggest or second biggest worry for 20 per cent.

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