Posts Tagged ‘Consumer Spending’

It’s common knowledge that Britain, like most of the world, is having financial problems at the moment. A new report from a team of economic forecasters at Ernst & Young says that the UK is facing a decade of readjustments away from consumer spending. The report said that Britain will need to start focusing on increased exports rather than the spending that comes from consumers.

The United Kingdom officially exited the recession according to new data this week from the last quarter of 2009. The country still has not managed to regain its footing and its expected that the economy will continue to struggle in the coming year.