Over 5 million adults already hard hit as Britain braces itself for a full-blown recession

January 22, 2009

With the latest UK GDP figures set to show that the UK economy is now officially in a recession, new consumer research from Mintel shows that over 5 million adults have already been ‘Hard Hit’ by the economic downturn and are seriously struggling to make ends meet. This equates to no less than one in every ten British adults (11%). And according to the research, things are only set to get worse, with a further 16% ‘Fearing for the future’ because they are worried about their long term financial security. “So far, most people are coping fairly well with the downturn. But for an unfortunate few the slowing economy is already causing them real financial problems. And even more are genuinely worried about their future security,” comments Toby Clark, Head of Financial Research at Mintel.

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