UK DATA: Jan Consumer Confidence Drops Back After Dec Bounce
–UK Nationwide Jan Consumer Confidence 47 Vs 54 In Dec
–UK Nationwide Jan Spending Index 70 vs 90 in Dec
–UK Nationwide Jan Spending Index Lowest Since Nov 2008
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After bouncing in December, UK consumer confidence dropped
straight back down in January, with consumers attitude to spending at
their most negative for more than two years. The January hike in value
added tax, coupled with consumers taking an increasingly gloomy view of
the economic outlook, appears to be taking its toll.