Gloom over UK Economic Outlook

There is an interesting opinion poll in today’s Times. It shows people’s response to different questions about state of the UK economy.

The report is giving importance to the anecdotal evidence of consumers, such as - Are you spending more on clothes than this time last year.

In this article. - Statistics and Outlook for UK economy, I Looked at the merit and limitations of using opinion polls such as this.

One thing for certain is that in tomorrow’s budget these results are unlikely to be used by the Chancellor. He will spend time referring to the official statistics, which paint a much more positive outlook for the UK economy.

Given the high levels of consumer debt in the UK, this consumer pessimism is likely to cause a significant downturn in spending and economic growth.

Do you agree with the gloomy outlook painted in these opinion polls?