UK consumers 'are still spending cautiously'

While consumers do appear to be willing to spend money, they are still adopting a cautious approach, one expert has noted.

The Centre for Retail Research's director, professor Joshua Bamfield, believes that the negativity that people were feeling towards the beginning of 2010 appears to have been replaced with a more upbeat attitude.

However, he added: "People are spending, but in a cautious way."

Meanwhile, the expert went on to point out that while the World Cup might lead to an increase in retail sales in the UK, public sector workers may be thinking about reducing their outgoings in the current climate.

Consumers with bad credit ratings thinking about applying for new spending products may be keen to note the views recently expressed by the Moneyfacts.co.uk spokesperson Michelle Slade.

Earlier this week, Ms Slade suggested that more competition is now being seen in the credit card market.

Posted by Tom Burroughs.