People 'still looking to rein-in spending'

People are still looking to keep a tight rein on their finances in the current financial climate, it has been suggested, which might help them to avoid things like credit card debt.

According to the GfK NOP Consumer Services managing director David Rodgers, consumers are still not feeling a great deal of confidence at the present time.

He stated: "With ... the fact that the recovery is insipid at best, it is probably not surprising that consumers are still continuing to tighten their belts on ... discretionary spends."

Some businesses may not see improvements in their sales until people start to feel a larger degree of confidence in the economy, Mr Rodgers went on to point out.

His remarks follow the publication of recent research by the Confederation of British Industry relating to the country's consumer services sector.

The last quarter saw a decrease in business volumes for those providing consumer services, the organisation suggested.

Posted by Tom Burroughs.