Debt -
Personal finances 'worsen' for consumers - 24/01/2008
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Overall 'financial wellbeing' among British consumers is at its lowest level measured for eighteen months, Alliance Trust has claimed.
The investors' latest quarterly Financial Reality Index, which analyses a series of personal finance-related issues among UK adults, shows a ten per cent drop over the previous results.
As a result of this apparent gloom, Alliance Trust said that consumers will be "reining in" their spending - which could see personal loan applications drop.
Indeed, high street credit - found in personal loans - is becoming more difficult to secure as a result of the ongoing turbulence in the global financial markets.
Head of Alliance Trust's research centre Shona Dobbie said: "Our latest Financial Reality report highlights how acute the consumer's predicament has become."
She added: "Our measure of consumer wellbeing shows a worsening picture not only for household budgets, but for consumers' net wealth and the economy as well."
On the Financial Reality Index, a score of 100 indicates average economic prospects in the long term.
For the final quarter of 2007, it measured 79.7.
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