Consumer confidence declines and savings rise

UK consumer confidence has fallen. Fewer Brits feel secure in their jobs. More people are saving their cash for a rainy day as consumers become increasingly pessimistic over the state of the economy. Research published by the British Retail Consortium (BRC) shows that a third of people are depositing their spare cash into savings due to the fear of job losses and rising living costs. The sharp fall in consumer confidence highlights the discontent and anxiety felt amongst a growing UK population. Despite a rise in savings levels, 70% of people polled in the GB Consumer Confidence index said they do not have any spare ...