Consumer spending has been described as a good barometer for measuring the overall conditions in the UK economy.
In news that may be of interest to those seeking unsecured loans, Jonathan Loynes, chief European economist at Capital Economics, said about two-thirds of the activity within the economy came from customer spending, while retail sales accounted for just less than half of that.
"Clearly it is affected by changes in unemployment, changes in interest rates, what's happening in the housing market and all of those things at the moment are clearly having a negative influence," he added.
Further news that may be of interest to people looking for unsecured loans comes from BRC, which revealed that UK retail sales values fell 0.9 per cent on a like-for-like basis, compared with July 2007, when they rose just 1.2 per cent.
Sales have now been lower than a year ago in four of the past five months, the worst figures since the summer of 2005, it was noted.
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