Charlie Weston: Don't expect savers to spend in uncertain times
PANICKY consumers are not spending for a number of reasons. They have less money to spend, but economic uncertainty also means they are hoarding every spare cent they can lay their hands on.
The Central Bank was the latest institution to sound alarm bells yesterday about the eagerness of consumers to save and their reluctance to spend.
Concern has also been expressed by the Government that people just will not spend and instead are stashing any spare cash they have in the banks.