UK Consumer Confidence Falls

23 March 2012 15:00 - Victoria Wedderburn

    



UK Consumer Confidence Falls

According to Nationwide Building Society, UK consumer confidence fell in February as rising unemployment and weak economic growth made people more pessimistic about the future. An index of sentiment fell to 44 from 47 in January. Economists had expected had expected the reading to remain unchanged from January. A gauge of consumers’ expectations for the economy fell 4 points to 60.

This report comes as unemployment rises to its highest level in 16 years which unfortunately comes at a time when inflation eases and the economy finally started to show signs of recovery. Other data also showed that retail sales fell 0.8% in February.

Robert Gardner, chief economist at Nationwide, “Weak labor-market conditions combined with weaker-than-expected economic growth are continuing to weigh on confidence.” In the report he said, “Consumers also scaled back their expectations for the future, with the forward-looking aspects of the index weakening during the month.”

4.jpg

Related Links :
Nationwide - Consumer Confidence
Latest News - Stay current with regular news updates
Economic Calendar - For scheduled economic events

PRODUCT RANGES: CURRENCY EXCHANGE
Foreign Exchange and Currency.
TRADING
Forex, CFDs, Shares and Futures.
INVESTMENTS
ISA, Pensions, Savings Accounts.
LOAN PRODUCTS
View all Loan and Debt Products.
CARD PRODUCTS
All Card Products Compared.
MONEY PRODUCTS
All Money Products Compared.
INSURANCE PRODUCTS
All Insurance Products Compared.

Is Everything covered for that Big Day ? Wedding Insurance
31 August 2018 - Which Way To Pay
Planning your wedding is one of the happiest times in your life , however we always need to make sure that we are covered for every penny spent . Wedding Insurance is a Must
Read More >>
Forever monitoring your endowment policy ?
08 April 2017 - Which Way To Pay
If this is your case then why not sell your policy on to make yourself some cash , and get what its worth.
Read More >>
Dreamt of that perfect overseas property ?
04 April 2017 - Which Way To Pay
EU overseas property mortgages have taken a whole new turn
Read More >>