Households braced for 2013 Hapyy New Year

PRLog (Press Release) - Jan. 3, 2013 - Without a strong rise in consumer spending it is unlikely there will be much real growth in 2013. Businesses held back investing in plant and machinery throughout 2012 and this is likely to continue if consumer spending remains subdued.

Begbies Traynor have highlighted that around 140 high street shop chains could go out of business in 2013 without any increase in high street spending. These stores remain highly geared and will be seriously affected by the consumer continuing to bargain hunt and shop on-line.

A spokesman for Markit said ‘Households are bracing themselves for yet another year of squeezed personal finances in 2013. The vast majority of households anticipate that their financial wellbeing will either worsen or stagnate in 2013. With three quarters of all households not expecting any improvement in their finances, the latest survey suggests that domestic consumer demand will remain under pressure in the near term, especially since inflation perceptions remain elevated and job insecurities are prevalent’.

Tim Corfield
Griffin and King (http://www.griffinandking.co.uk/)