Consumers in the UK are downbeat about the country's fiscal situation at the moment, a new poll has found.
According to Lloyds TSB, 91 per cent of Britons feel negative about the UK's current financial status.
Similarly, 93 per cent said they do not feel positive about existing conditions in the employment market.
This could be partly down to what Lloyds TSB has described as a continuing squeeze on people's finances.
Since this is directly impacting on consumer spending, retailers may therefore find it prudent to use promotional labels and discounts to attract shoppers at a time when they may be reluctant to part with their cash.
Patrick Foley, Lloyds TSB's chief economist, commented: "The squeeze on consumers is not yet beginning to ease."
Indeed, he said the prices of many essential items are continuing to go up, despite a drop in overall inflation over the last few months.
Mr Foley added that the economic recovery is likely to be sluggish in the short-term at least.
Denny Bros Ltd, 25 April 2012
