Consumer spending stats 'should not be ignored by government'

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Consumer spending stats 'should not be ignored by government'

Tue 31st Mar 2009

The government has been urged to take note of surveys on consumer spending for greater insight into the future of Britain's finances.

A study carried out by research organisation BDRC has found six out of ten Brits are cutting back their spending, even though many have not yet felt any adverse impact as a result of the recession.

Mark Long, BDRC director, said "one of the key messages" to come out of its research is the fact that caution is the dominant mindset among consumers at the moment, regardless of whether they have been affected by the recession or not.

He added that the government needs to consider this kind of data when making plans to tackle the economic downturn in future.

"This work is going to be available and updated every other month so we hope the study will help inform decision-making at that level and believe the government would be an ideal audience for this sort of research," he explained.

Recent statistics from the CBI reveal 63 per cent of retailers said year-on-year sales volumes fell in the first half of March, with 42 per cent predicting further falls in April.

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