Boston, MA -- (SBWIRE) -- 01/19/2013 -- We continue to see limited scope for growth in private consumption. Ultimately, high unemployment, falling real wages, a large stock of private sector debt and fiscal austerity will keep consumers focused on deleveraging rather than spending for the foreseeable future, particularly as taxes on consumption have been pushed up to help bring down Spain's deficit. This means we see very little chance of another consumption-led boom over the next five years and see the environment continuing to favour pricefocused retailers and cheaper food and drink options over most of this period.