Issue 2013 June 18th

This issue was created on 2013-06-18 08:37:00

  • Comment: The consumer is back but not like beforeJune 18, 2013
UK consumer spending has consistently disappointed since the onset of the financial crisis, hampered by a severe squeeze on real wages and the need to pay down domestic debt, says Peter Spencer, senior economic adviser to Ernst & Young’s ITEM Club. As a result, consumer spending is currently almost 4% lower than its 2008 high-point, a marked contrast with previous recoveries when spending had risen well above previous peaks by this stage. However, the consumer finally showed signs of life in 2012 following a strong recovery in real household incomes, and we project that the momentum behind rising consumer spending will build gradually over the next few years.
Subscribe or log in to read the rest of this content.
Share →

Leave a Reply

Your email address will not be published. Required fields are marked *