As consumer spending is the biggest component of aggregate demand the output of the U.K. will fall.This will then mean less jobs and the vicous circle continues.

This has made many firms break under the pressure however there are some industries and niches within out economy that are thriving in the current turmoil.

There is evidence that more people are shopping in street markets, and this comes as the first piece of good news in the worldwide crisis we are most definitely facing.

The markets have seen an upturn in demand as Charles Cook from the Church Street Trading Association stated, “overall rise of around 30% increase in taking although not all profits due to an increase on purchase costs.”

The wholesale prices of fruits and vegetables have increased and therefore cost-push inflation has reached the consumer.

The more prudent of spenders have noticed that the market offers better value for money than the larger supermarkets despite the increased competition that has had the oligopolies fighting for customers.

This is a glimpse of hope within this worldwide economic depression, and something to help us get into the Christmas spirit.