In December, the consumer confidence index produced by the Nationwide Building Society (NBS) increased to 53 points, which marked the first increase since August and reversed the 8-point drop recorded in November. Consumer sentiment has deteriorated markedly since February last year and, despite December's increase, remains well below its long-term average of 81 points. December's rise in consumer sentiment was broad-based, with increases in all sub-components of the index, although the result primarily reflected a more positive outlook for the next six months. In addition, an increasing number of respondents deemed the present time as appropriate for the purchase of major goods, in particular household items. That said, according to NBS, the improvement likely reflects the projected VAT rise that took place in January, which influenced consumers to expedite their purchases.
United Kingdom Consumer Confidence
Consumer confidence rises for first time since August
January 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.