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Home arrow Market Research Findings arrow Economic Climate and Consumer Confidence arrow Consumer confidence falls to lowest level ever - Nationwide Consumer Confidence Index
Consumer confidence falls to lowest level ever - Nationwide Consumer Confidence Index PDF Print E-mail
Written by TNS   
05 Feb 2008

Consumer confidence in the UK  fell to its lowest level on record in January, according to the findings of the Nationwide Consumer Confidence Index conducted by TNS (embargoed until tomorrow, Wednesday 6 February 2008).  The fall can be blamed on turbulent economic uncertainties that have made people feel less positive about the future, and about their current employment and economic situation.
 
The top line findings for January show:

  • Consumers are gloomy about their current economic and employment situation, with the Present Situation Index  falling five points to reach its lowest point since records began. This fall in confidence can be largely attributed to a quarter (25%) of consumers feeling that their current economic situation is bad, and 24% believing that there are few jobs available.
  • Consumers are pessimistic about the future, with the number of people believing that the country's employment situation will be worse in six months time rising 8% to 32%. Similarly, almost half of consumers (44%) think that the economic situation in six months time will be worse than it is today.
  • Confidence about consumer spending remains stable, but 58% of consumers still believe it is a bad time to buy major household items. Spending confidence is also a significant 22 points lower than it was last year this time.

 

 

 

 

The Consumer Confidence Index uses 100 as its baseline figure - the level of consumer confidence in May 2004.  All indice figures reflect an increase or decrease in confidence in relation to the benchmark of 100. 

 
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