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Increase recorded in ethical spending

Ethical retailers have witnessed expenditure of goods and services increase by 18 per cent over the past two years.

Co-operative Finance Services revealed that the ethical market in the UK was worth a total of £43.2 billion in 2009, compared to £36.5 billion in 2007.

The growth comes as overall household expenditure declines by two per cent during the past year.

Tim Franklin, chief operating officer at the bank, commented: "This annual report clearly shows that the growth in ethical consumerism continues to outstrip the market as a whole.

"I have no doubt that this will come as a surprise to those commentators who thought ethical considerations would be the first casualty of an economic downturn."

Personal products were the fastest growing ethical sector, with a 29 per cent increase in expenditure on items such as clothing and cosmetics.

Meanwhile, consumers' disenchantment with the financial services sector also prompted an increase in ethical finance products, with grew by 23 per cent.ADNFCR-1898-ID-800317110-ADNFCR

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