Discretionary spending is contracting as people squirrel away cash or reduce debt in these uncertain times. We could well be in the eye of a tornado economically.
Next, the fashion retailer, has reported a “noticeable cooling” in demand on the high street since early May.
Meanwhile, Carpetright the floorcoverings retailer that is seen as a barometer of the health of the consumer economy, warned that demand across Europe is subdued: “We remain cautious about the outlook for consumer spending for the balance of the year.” said Lord Harris, the Chairman.
With public sector cuts yet to hit and the associated redundancies not yet made and consumer confidence down there is no fairy godmother of demand so the way forward is down.
Author: Chris Slay
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