In February, the seasonally adjusted index of consumer confidence produced by the Nationwide Building Society (NBS) dropped 10 points to 38 points, which represents the lowest level since records began in May 2004. The figure followed on a significant drop in January and came in below the 41 points recorded in the trough of the crisis in January 2009. The decline in consumer sentiment was broad-based, with drops in all sub-components of the index. However, the primary factor behind the drop was a weaker assessment of the economy in the next six months. In addition, respondents were significantly less upbeat regarding the future purchase of major goods. Weak consumer sentiment augurs ill for a recovery of private consumption.
United Kingdom Consumer Confidence
Consumer confidence falls to lowest level on record
March 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.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.