Legal & General: Credit crunch has not halted spending

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Legal & General: Credit crunch has not halted spending

Consumers' urge to spend has not been dampened by difficulties in the financial markets, according to Legal & General.

This month's MoneyMood survey reveals that 37 per cent of people are 'in the mood to spend', which reflects the highest level for the year.

Julia Clayworth, Legal & General's wealth management customer marketing manager, explained that the findings suggest Britons are "getting into the Christmas spirit and spending with confidence".

It is sensible to spread holiday spending across at least a couple of months rather than concentrating it in December, she remarked.

"We have also seen a big split between the spending attitudes of men and women, with a Scrooge-like 30 per cent of men being in the mood to spend whilst a much more festive 44 per cent of women [are] looking to spread Christmas cheer on the high street," Ms Clayworth added.

Recently, MoneyFacts suggested that consumers may want to start planning ahead for Christmas 2008.
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