The bank said services spending is slowing and hot inflation has spurred consumers to pull back.
The London-based investment company is courting retail investors with an offer to buy into wind, solar and other renewable energy projects for as little as five pounds ($7.84).
Irving Picard hoped to pay investors in Bernard Madoff's defunct firm as much as $65 billion, but so far has only put his hands on about $2.6 billion to actually give back to customers.