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Consumer Confidence Drops
Listed under: News
Published: Tuesday, April 27, 2010
Shoppers in the UK are feeling less optimistic than they have since the start of the recession, with Nationwide's most recent Index of Consumer Sentiment showing a significant fall in customer's expectations in March.
Uncertainty about the General Election and concerns about rising unemployment were both cited as likely causes for the unrest, with 65% of the 1,000 people questioned saying there were less job vacancies – up from 61% in February – and 48% thinking there would be even fewer opportunities over the next six months.
Speaking to The Times Online, Martin Gahbauer, chief economist at Nationwide, says, “With an election looming, more people will be unsure as to whether they will be better or worse off, and recent concerns about the economy and employment could still be playing on the minds of consumers. Industrial unrest and union activity will also have done little to allay fears.”
Uncertainty about the General Election and concerns about rising unemployment were both cited as likely causes for the unrest, with 65% of the 1,000 people questioned saying there were less job vacancies – up from 61% in February – and 48% thinking there would be even fewer opportunities over the next six months.
Speaking to The Times Online, Martin Gahbauer, chief economist at Nationwide, says, “With an election looming, more people will be unsure as to whether they will be better or worse off, and recent concerns about the economy and employment could still be playing on the minds of consumers. Industrial unrest and union activity will also have done little to allay fears.”
