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UK consumer confidence stays low in March
08.04.09
Consumer confidence in the United Kingdom remained low in March, according to a survey published today.
The Nationwide Building Society said its consumer confidence index fell two points to 41 in March.
The survey found that 66% believed there were few jobs available, and 65% didn't expect more jobs to be available in six months. Some 83% believed the economic situation was bad in March, compared to 86% who felt that way in February; 58% believed the economy won't be any worse in six months.
"Overall consumer confidence has remained broadly stable since the start of the year, but feelings about the current labor market have weakened," said Fionnuala Earley, Nationwide's chief economist.
"Even though retail sales are now weaker, spending sentiment has remained stable. This stability isn't surprising given further reductions on the high street and lower mortgage costs for some," she added.
The index is based on a survey conducted by TNS, which questioned 1,000 people between 16 February and 22 March. The survey had a margin of error of plus or minus 3 percentage points.
