Consumer confidence at new low

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The Nationwide consumer confidence index dropped to just 77 during the month, the lowest level since it was first launched in May 2004.

A weakening property market, uncertainty in the financial markets, and concerns about the economy all took their toll on consumer sentiment.

People's confidence in the current economic situation hit a new low of 74, as consumers felt less upbeat about the number of jobs that were available.

Going forward, people's optimism about future economic conditions remained at a low of 79 for the third month running.

Only 14% of people think the economic situation will be better in six months time than it is now, while just 38% of people feel positive about future employment levels.

But despite consumers' more gloomy outlook, the group's spending index increased by three points to stand at 67.

The improvement was driven by a slight rise in the number of people who thought it was a good time to make a major purchase, such as a house or car, with this rising to 14%.

The group said that while the majority of consumers still thought their household income would be the same or higher in six months' time, there were signs that people were beginning to realise it could be lower, with 12% of people expecting a drop compared with just 7% in September last year.

But despite recent reports of falling house prices, consumers are more upbeat about the prospects for the housing market, expecting price rises of 0.4% during the coming six months, compared with predictions of falls of 1.1% in February.