Slowing economy fuelling Brits' debt fears
Slowing economy fuelling Brits' debt fears
Monday 14th July 2008
In a study conducted by YouGov on behalf of the Association of British Insurers (ABI), 92 per cent of those surveyed said that they felt that the economic climate is worse than it was 12 months ago.
Meanwhile, in a sign that gloom among consumers is deepening, 82 per cent of the sample said that they expect conditions in the economy to worsen over the course of the next year.
Rebecca Driver, the ABI's director of research and chief economist, said: "Confidence in the economy is deteriorating rapidly: 61 per cent of people now think the economy is a lot worse than a year ago, compared to 49 per cent in April.
"Only five per cent expect the situation to improve in the next year."
Last month, a report from the Hay Group and the Centre for Economic and Business Research predicted that the slowing economy is set to result in 350,000 jobs being cut in the next 18 months.
Debt1, official website of Byrom & Keeley - Experts in Debt Management
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