Economy greater concern for consumers than terrorism

28 February 2017 - Janet Bird

uk consumers

Concerns about the economy have overtaken terrorism as the top worry for UK consumers, a new study has revealed.

The latest Nielsen Global Survey of Consumer Confidence and Spending Intentions showed that, across 2016, the percentage of Britons citing the economy as their first or second biggest concern rose from 16 to 28 percent.

But despite this, the data showed that consumer spending confidence in the UK is actually at its highest level on record. Indeed, the UK emerged as Europe's fourth most confident country in 2016, finishing behind Denmark, the Czech Republic and Switzerland.

After terrorism - listed by 20 percent of respondents as their biggest fear, 12 percent less than in 2015 - the third greatest worry for consumers was immigration; although the number of people citing it as their most pressing worry dropped to 20 percent, two percent less than the previous year.

Rising food prices, utility bills and health were next in the list of consumers' concerns, followed by job security.

Political stability was next, with the number of consumers citing it as their biggest worry rising sharply from two to ten percent.

Debt and rising fuel prices also made it into Britons' top ten concerns.

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