In March, the seasonally adjusted consumer confidence index produced by Nationwide Building Society (NBS) added 5 points over the previous month, climbing to 44 points. The print followed on a sharp drop in February, which saw the index sink to its lowest level on record. Consequently, despite the moderate comeback, the index remains at levels comparable to those observed during the trough of the crisis at the beginning of 2009. That said, March's increase in consumer sentiment was driven by a more positive assessment of the outlook for the British economy in the next six months. Moreover, the rise reflected a less negative view on whether now is good time to make major purchases, although still more than 50% of the respondents believe it is a bad time to purchase major good goods, such as a house or a car. The NBS warned that it is unlikely that we will see a significant improvement in the coming months. It is far more likely that confidence will remain subdued for several months yet until the economy gains greater momentum. Weak consumer sentiment augurs ill for a more meaningful recovery in private consumption.
United Kingdom Consumer Confidence
Consumer confidence partly recovers from record low
April 15, 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
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In September, the manufacturing sector recovered the ground it had lost after the EU referendum.