Economy worries Britons - survey

Concerns over the economy have topped Britons' worry list for the first time in more than four years, a survey showed today.

Concerns over the economy have topped Britons' worry list for the first time in more than four years, a survey showed today.

Almost a third of those polled cited the economy as their main concern in the coming six months - up from just 17 per cent a year ago, the survey, jointly conducted by market research company Nielson and the British Retail Consortium, showed.

The findings will make grim reading for British Prime Minister Gordon Brown, who has regarded his record on the economy over the past decade as a trump card and is already trailing in the polls.

Consumers will be thinking twice about splashing out this Christmas
Mike Watkins, Nielsen's

Retailers will also be worried ahead of the key Christmas shopping season by yet another survey suggesting consumers are not in a festive mood.

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"Consumers will be thinking twice about splashing out this Christmas," said Mike Watkins of Nielsen's retail services division.

The poll of more than 1,000 consumers was conducted at the end of November and follows high-profile media coverage of stricken mortgage lender Northern Rock and a housing market slowdown.

Consumer confidence was up slightly from a four-year low touched in mid-2007 but well below levels seen at the same time last year.

Evidence of a slowing economy, falling consumer confidence and fast-cooling housing market prompted the Bank of England to cut interest rates last week for the first time in more than two years.

Kevin Hawkins, director general of the British Retail Consortium, said further cuts would be needed.

"If interest rates do not fall further and disposable incomes continue to weaken, confidence levels and customers' willingness to spend will continue to decline," he said.