Retail confidence has continued to falter in the face of a slowing housing market. The UK Retail Confidence Indicator (RCI), complied for the British Retail Consortium (BRC), showed a sluggish start to Christmas inNovember and has now revealed that consumer spending has failed to match expectations throughout December – a disappointing result so late in the Christmas spending season.

Perceived economic uncertainly has been blamed for the decline. Bill Moyes, BRC director general said: 'The customer is increasingly conscious of economic uncertainities. The message on pensions and savings is getting through. Nonetheless, the consumer is able and willing to spend. Consumer confidence remains positive but they want value. Pressure on prices remains intense.'

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