–UK Nationwide Sep Consumer Confidence 45 Vs 48 In Aug
–UK Nationwide Sep Spending Index 77 Vs 79 In Aug
LONDON (MNI) – Consumer confidence fell in September to within four
points of its all time low, according to the latest Nationwide survey.
The Nationwide Consumer Confidence Index dropped to 45 in September
from 48 in August. Having risen from its record low of 41 in February to
56 by May, the index has now dropped for four months in a row.
Responses on consumers’ view of the current situation made grim
reading, but they do expect things to improve.
In all 71% of respondents said the economic situation was bad, up
from 68% in August and 62% said not many, or few, jobs were available.
The seasonally adjusted Present Situation Index fell to 21 in September
from 23 in August.
The September Expectations Index, however, still fell to 62 from
65.
However, only 35% thought the economic situation would be bad in
six months’ time, with 70% saying their household income would unchanged
six months down the line.
The survey highlights consumers’ reluctance to splash out on big
ticket items, which has, some electronic goods aside, been evident in
the official retail sales data.
In all 50% said now was a bad time to make a major purchase,
compared with 47% in August and 25% said it was a good one. The
Nationwide Spending Index edged fell to 77 in September from August’s
79.
–London newsroom: 4420 7862 7491 email: drobinson@marketnews.com
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