|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
21st of April 2011
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  


Economy News feed Economy News

All Financial News feed All Financial News



February 16, 2011    

UK consumer confidence takes a knock in January

Bookmark and Share

by Kay Murchie
”UK

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

The building society’s consumer confidence index plunged to 47 in January from 54 the previous month - just 6 points above the record low of 41 and way below its average of 81.

In the meantime, the Nationwide said the spending index measure is at the lowest level since November 2008 - falling 20 points to 70, while the expectations sub-index dropped 10 points to 63.

Commenting on the report, Robert Gardner, Nationwide’s chief economist, said the latest fall is not a surprise.

“Consumer perceptions are likely to have been dented by the rise in VAT and the upward pressure on inflation more generally, with rising prices for petrol and other essentials likely to have been recorded during the month,” he said.

Meanwhile, according to the Nationwide, consumers are pessimistic about the prospects of the housing market.

They expect the value of their homes to fall by 1.1% over the next six months.

Discuss this in the Finance Markets forums

Story link: UK consumer confidence takes a knock in January



Financial Services:





Related financial stories to: UK consumer confidence takes a knock in January:
Previous: «
Next: »

Visited 1300 times, 2 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , , , , ,