Nationwide: UK consumer confidence down in June

| July 21, 2011
”Nationwide:

The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of June.

The building society’s consumer confidence index lost 4 points to 51 last month, which reverses some of the 11 point rise seen in May, which represented one of the largest gains on record.

The index is still below the average of 81.

Commenting on the report, Mark Saddleton, head of economic and market analysis at the Nationwide, said: “Confidence returned to a more subdued level in June as the index again failed to build any sustained momentum to lift it from its current low level.”

Meanwhile, the expectations and spending indices both fell, suggesting consumers remain reluctant to spend in the face of higher inflation and unemployment and slow wage growth.

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