More than a third (35 per cent) of Britain's consumers are worried about the future of the economy.

In news that will add to the government's woes it seems the credit squeeze and the stalling housing market are hitting confidence.

As well as worrying about the economic climate, more than 15 million consumers are feeling worse off, the price comparison site uSwitch.com said.

Over ten million Brits think that their current borrowing levels are either bordering on unmanageable or are already unmanageable.

"This is crunch time for consumers and it couldn't come at a worse time of year," said Ann Robinson, director of consumer policy at uSwitch.com.

"In the run-up to Christmas, traditionally one of the biggest periods of consumer spending, people are feeling less well-off and are worried about the future."

Ms Robinson added: "They are concerned about their jobs, their homes and their ongoing ability to manage their debts and bills."

Over the last 12 months, interest rates have gone up, flooding has seen home insurance premiums pushed up and the squeeze in the international financial markets is restricting credit.

Figures released this morning also suggest that house prices might have started to fall.

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