–UK Nationwide April Consumer Confidence 74 Versus 73 in March
–UK Nationwide April Expectations Index 104 Versus 106 in March
–UK Nationwide April Spending Index 96 Versus 97 in March
–UK Nationwide Expectations Index Lowest Since Aug 2009

LONDON (MNI) – UK consumer confidence nudged up in April after a
sharp fall in March, although expectations declined further, according
to the latest Nationwide Consumer Confidence survey.

The survey showed consumers’ confidence about the future falling,
but they were more upbeat about their current circumstances.

The Nationwide Consumer Confidence Index rose to 74 in April from
73 in March, still well below the 82 level seen in February. The
expectations index dropped to 104 in April from 106 in March, its lowest
level since August last year, while the spending index fell to 96 in
April from 97 in March.

The survey was conducted before the May 6 election and subsequent
prolonged period of government formation, and so its findings may have
been impacted by electoral uncertainty.

“As the UK braced itself for a period of political uncertainty,
confidence remained broadly stable during the month of April –
potentially a result of consumers maintaining a reserved outlook in the
run up to the recent General Election,” Mark Saddleton, Nationwide’s
head of economic and market analysis, said.

The survey was conducted between March 22 and April 18.

It found consumers more upbeat about the present than the future.
The Present Situation Index, based on sentiment about the current
economic and employment situation, rose to 28 in April from 25. The
percentage of consumers saying the current economic situation is bad
fell to 62% from 64%.

The Expectations Index, which reflects sentiment about the economy,
labour market and household income over the next six months, fell to 104
in April from 106 in March.

–London newsroom: 4420 7862 7491 email: drobinson@marketnews.com

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