Money Matters - Simplified

Poll: Pessimism increases in Britain

London -- British consumers are more pessimistic about their economy than they were two months ago, a survey released Thursday said.

In a recent survey of 2,008 British adults, 88 percent of respondents indicated the economy was in "poor shape," Angus Reid Public Opinion said.

In addition, 64 percent of the respondents indicated their own financial situation was "poor," 4 percentage points higher than a May survey.

In May, 20 percent of respondents indicated they believed the economy was going downhill. In the current survey, 34 percent indicated the economy was deteriorating.

Fears of unemployment are also on the rise. In May, 38 percent indicated they feared a household member could lose a job. In the current survey, 44 percent indicated a job loss was possible for a member of the household.

The survey was conducted June 23-25. The results include a margin of error of 2.2 percentage points, Angus Reid said.

Copyright 2010 United Press International, Inc. (UPI).

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