UK consumer confidence has fallen for the fourth month in a row, according to the Nationwide building society.<\/p>\n
The mortgage lender’s consumer confidence index fell three points in September to 45 points, This is 10 points lower than a year earlier.<\/p>\n
It said that 80% of consumers believe there will be no improvement in the economy over the next six months.<\/p>\n
Despite this, a quarter of consumers still think that now is a good time for a major purchase, the survey found.<\/p>\n
‘Pressure mounting’<\/p>\n
The Nationwide’s figures come after a surprise rise in retail sales for September.<\/p>\n
UK retail sales rose by 0.6%, according to recent figures from the Office for National Statistics (ONS).<\/p>\n
That was stronger than analysts had forecast, and more than reversed a 0.4% fall in volumes in August.<\/p>\n
However the Nationwide survey suggests shoppers remain pessimistic.<\/p>\n
“The economy has hardly grown in 2011, and pressure has continued to mount on household budgets,” said Robert Gardner, Nationwide’s chief economist.<\/p>\n
Mr Gardner suggested moves to tackle the eurozone crisis, the return of quantitative easing by the Bank of England, and possible “credit easing” by the treasury could make a difference.<\/p>\n
“This could translate into improved consumer confidence, if people believe these efforts will be successful in lifting the economy out of its current malaise,” he added.<\/p>\n
source: http:\/\/www.bbc.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"
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