The CBI's retail sales index fell to its weakest level in a year as anxious shoppers cut back on clothing, groceries and big-ticket items.

A balance of 2pc of retailers said sales volumes fell in the first two weeks of June – the first decline for a year – compared with 18pc who saw them rise in May. Stores expect demand to be "flat" in July, the CBI said.

http://www.telegraph.co.uk/finance/econo...debts.html

It makes sense to pay off debts when there is so much fear of unemployment and higher interest rates in the future.