Show Hide image

Consumer confidence deteriorates further

Fears of continued economic strife and a squeeze on income feed drop in confidence.

The Nationwide Consumer Confidence index fell to a seven year low for February, indicating mass uncertainty about the future of the UK economy, and widespread fears about job security.

Reportedly around 42 per cent of those surveyed believe the economy will have worsened in six-months time, and 63 per cent think there will be fewer jobs. Furthermore 75 per cent think the economy is in bad condition, and 54 per cent think it is a bad time to make a major purchase such as a house or a loft conversion.

Confidence in spending has been struck by a number of issues including high inflation, job uncertainty, low wage growth, and the new 20 per cent VAT rise.


Liam McLaughlin is a freelance journalist who has also written for Prospect and the Huffington Post. He tweets irregularly @LiamMc108.