Brits feel the financial squeeze, but refuse to panic

August 3, 2008

According to latest research from MINTEL there are signs that the current economic climate is now really starting to hit home, but Brits are keeping a stiff upper lip. Those who see themselves as comfortably off or managing easily has fallen from almost two thirds (64%) in 2006 to just over half (51%) this year. Meanwhile, there has also been a dramatic leap in those who say that even though they are getting by, things are pretty tight, with this figure rising from just one in four (25%) in 2006 to 39% this year. “The good news is that the vast majority of people can still afford to make ends meet. But there has clearly been a deterioration in people’s perception of their financial situation over the past two years, as rising interest rates and higher living costs have really started to take hold,” comments Toby Clark, senior finance analyst at MINTEL.

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