Ireland has slashed its VAT rate on a number of goods, including restaurants, hospitality and tourism in a bid to boost the economy and get consumers spending again. The country’s Government lowered the rate from 13.5% to 9% on 1 July and it will remain until December 2012. The new rate will mean slightly lower [...]
A survey of 2,000 individuals, conducted between June 3 and 12, has revealed a fall in consumer confidence. According to the survey of consumer attitudes, carried out by GfK NOP Social Research, confidence dipped by 4 points to -25 in June after May’s 10 point rise, which represented the biggest increase since May 1993. The [...]
Newcastle-based housebuilder Bellway has today said an uplift in consumer confidence has led to a rise in sales. The housebuilder, which is the fifth largest by market value, said it had experienced a sales rate of 111 units per week in the four months to the end of May – 9% higher than the same [...]
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of April. The building society’s consumer confidence index dipped to 43 last month, from March’s upwardly revised figure of 45. The index remains just 4 points above February’s all-time low and is way below the index [...]
A survey conducted between February 4 and 13 revealed a slight rise in consumer confidence. According to the survey of consumer attitudes, carried out by GfK NOP Social Research, confidence rose one point to minus 28 – an improvement on January’s fall which represented the biggest since the last recession in 1992. However, the reading [...]
According to the latest Confederation of British Industry (CBI) distributive trades survey, retailers are concerned about consumers tightening their purse strings amid rising inflation. The CBI’s survey established that the sales balance fell to +6 this month from +37 in January – far below expectations of a +30 reading. Furthermore, retailers expect sales growth to [...]
Japanese consumer confidence grew for the first time in seven months in January, the Cabinet Office said today. The closely-watched consumer sentiment index climbed to 41.1 in January, from 40.1 in December. The figures suggest consumers are now more optimistic about the economic prospects after all four sub-indices of the sentiment index saw an improvement [...]
Consumer confidence in Germany, which is the euro zone’s largest economy, has fallen after six months of sharp gains, according to the GfK research group. GfK said its consumer climate indicator fell to 5.4 for January from 5.5 in December. The fall from the forward looking indicator, which questioned around 2,000 people, surprised some analysts. [...]
A survey showed today consumer confidence remains at low levels with the GfK NOP December consumer confidence index unchanged at -21. While it was marginally better than the -22 expected by analysts, it is two points lower than this time last year. Meanwhile, the survey’s “climate for major purchases” index surged ahead by 10 points, [...]
The British Retail Consortium (BRC) has revealed some optimism among retailers for the Christmas period. Many believe the Christmas period will be no worse than last year – despite consumers being fearful of the Government’s spending cuts and unemployment. According to the BRC’s snapshot of 17 major retailers, which represents up to 51% of the [...]
US consumer confidence edged higher in October to 50.2, from a revised 48.6 in September. The reading from the closely-monitored Consumer Confidence Index from the Conference Board beat expectations of a level of 49.2. However, while the index rose slightly, it remains far away from the 90 points required to show that the world’s largest [...]
As part of a crackdown on credit cards and store cards, the Government is considering capping interest rates in a bid to get the consumer a fairer deal. Following the Government’s review into consumer borrowing, Consumer Minister, Edward Davey, and Financial Secretary to the Treasury, Mark Hoban, have asked industry experts for their views as [...]
Housebuilder Bovis Homes has today claimed the coalition Government’s spending cuts and tax hikes have dented consumer confidence. Its claim comes as the company reported a pre-tax profit of £3.5 million in the first half of 2010, compared with a loss of £8.6 million for the same period last year, Meanwhile, it added it planned [...]
The latest survey from the Nationwide Building Society has revealed a further fall in UK consumer confidence for the month of July. The building society’s consumer confidence index plunged from 63 in June to 56 last month – the lowest level since May 2009, due to the Government’s tough austerity measures. The Nationwide said the [...]
According to a study by professional services firm Deloitte, 76% of companies in the UK, US and Europe have exceeded City forecasts when reporting their second quarter profits. As a result of the findings of the study which looked at 543 firms, Deloitte said companies are making “real progress” but warned that consumer incomes and [...]
The euro zone received a boost today after a report revealed business and consumer confidence surged to its highest level since March 2008. Confidence in the 16-member nation rose to 101.3 in July, up from a revised 99 in June, according to the European Commission’s economic sentiment index. However, the Commission highlighted that the rise [...]
Russia’s economy improved in the second quarter of 2010 after figures showed growth of 5.4% compared with the same period a year ago. Economic growth has been driven in the three month period by rising consumer demand, according to the country’s deputy economy minister, Andrei Klepach. In the first quarter, GDP expanded 2.9% from the [...]
The latest survey from the Nationwide Building Society has revealed a further fall in UK consumer confidence for the month of June. The building society’s consumer confidence index plunged from 66 in May to 63 in June – the lowest level for a year, due to ongoing economic uncertainty. However, the Nationwide highlights that the [...]
A survey by Westpac bank and the Melbourne Institute has revealed that Australian consumer confidence took another dive in June. The study, which questioned 1,200 people, found that consumer morale in June fell by 5.7% to a reading of 101.9 and followed a 7% drop in May. The fall was attributed to global economic worries [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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