Reading the Newcastle Journal, I discovered a small paragrapgh relating to a recent report from the Bank of Englaand in which they stated that they were seeing a definate trend towards people pulling in the reigns on their spending habits. It went on to say that the figures showed that there was evidence of a downwards shift in consumer spending during the month of December. This is great news if the figures stack up as it is showing that people are starting to realise that they can’t continue to spend like they were without suffering the consequences. It also goes to prove that the the Christmas trading period was very difficult for most high street traders and even some of the large supermarkets.
With bankruptcies up and uemployment figures rising it appears that the austerity measures are now starting to bite, I feel that we can look forward to more reports like this as I’m sure that as consumers see their weekly income either at a stagnant level against inflation or even deminishing they will be forced to use different tacticts to get the best deals possible in order to keep their heads above water.
About Den NicholsonDen Nicholson is the senior editor here at Beating Bankruptcy, Since Den Retired from his UK business in the UK he has been blogging about ways of beating debt and in the most extreme cases beating bankruptcy. As well as detailed articles you can catch all the latest news from the UK with a focus on debt issues.
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