Researchers say the much-hyped 'feel good factor' associated with earlier successes in the tournament does not make people spend more.

According to the Halifax Bank of Scotland, economic growth has tended to be lower in World Cup years.

Other figures out today suggest that football fever has led to record-breaking sales of beer, barbecue food and items like St George's flags.

But consumers stayed away from the high street while England were playing, Ananova reported.