UK consumer confidence unchanged in November

The latest survey from the Nationwide has revealed UK consumer confidence remained unchanged in November from October‘s revised figure.

However, the reading of 73 is way ahead of the record low in January of 45 and is at an 18-month high.

Meanwhile, the Nationwide’s expectations index, which gauges peoples’ sentiment about the economy, jobs and personal finances in six months time, increased by 1 point to 108, while the index gauging spending intentions gained two points to 106 in November - the highest reading since June.

Commenting on the figures, Martin Gahbauer, Nationwide’s chief economist, said: “Consumer confidence is holding steady at the end of a volatile year for the index.”

“The downbeat assessment of the present situation is consistent with recent news that the UK has been slower to come out of recession than other countries,” he added.

In the meantime, a separate survey conducted by the Recruitment and Employment Confederation (REC) found that employers in all sectors were lifting recruitment freezes.

The survey of 400 firms found that the rise in permanent jobs last month was the fastest in two years.

“This is very positive news… employers in nearly all sectors are lifting recruitment freezes and starting to hire again” said REC chief executive Kevin Green.

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