In April, the seasonally adjusted consumer confidence index produced by Nationwide Building Society (NBS) fell by 2 points over the previous month, settling at 43 points. Consequently, the index remains at levels comparable to those observed during the trough of the crisis at the beginning of 2009. The April's decrease in consumer sentiment was driven by a more negative view on whether now is a good time to make major purchases, with the Spending Index falling by five points to 62 with 47% of the respondents believing it is a bad time to purchase major goods, such as a house or a car. Furthermore, both the Present Situation Index and the Expectations Index fell by a more moderate two points in April. Some 69% of the respondents still believe that current economic situation in the United Kingdom is bad. In a comment, the NBS stated that consumers are still feeling downbeat about the current situation and there is little to suggest that they expect things to improve much over the coming months. Weak consumer sentiment does not bode well for a more meaningful recovery in private consumption.
United Kingdom Consumer Confidence
Consumer confidence inches down remaining subdued in April
May 18, 2011
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United Kingdom Economic News
October 21, 2016
Following nearly four months of little or no news regarding formal negotiations with the European Union, in early October, Prime Minister Theresa May finally shed some light on the Brexit timeline and announced that Article 50 of the Lisbon Treaty will likely be triggered before the end of March 2017.
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
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In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
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In September, the manufacturing sector recovered the ground it had lost after the EU referendum.