Lloyds TSB: Consumers tightening spending by Finance News Bulletin

Published: 28/11/07

Consumers have tightened their spending this month as rising numbers struggle to pay their bills, investigate by Lloyds TSB has shownAccording to the store's Corporate Markets Consumer Barometer survey for November, almost three-quarters (73 per cent) of customers felt prices have increased over the last yearInterest rates are more likely to be senior than the current 575 per cent base rate in 12 months time, according to less than semi (43 per cent) of the 2,000 customers surveyed by Lloyds TSB

The consumer barometer also found that consumer confidence in service conditions cut down by 27 per cent during the month, with demand for higher wages expected to add to, according to Trevor Williams, chief economist at Lloyds TSB business Markets"A record number of consumers are feeling the force of higher prices and this, together with deterioration employment prospects, is clearly having a negative impact on consumer spending," he commentedNationwide's Consumer self-assurance Index for October exposed the willingness of shoppers to spend their

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