UK consumer confidence sinks in December
In its monthly survey of consumer confidence, the nationwide said its headline index fell by five points in December to 96 following November’s record nine point rise.
‘The gloomy view among consumers is perhaps not surprising given that over the last 12 months GDP has almost halved,’ said Stuart Bernau, Nationwide’s executive director.
‘It also suggests that as we approached the year-end people may have re-appraised their situation and become more realistic about the future,’ he added.
Yesterday the British Retail Consortium said like-for-like sales, which strip out the impact of new and closed space, rose by 2.6 per cent in December from the same month a year ago. The figures were above expectations for a gain of just 1.5 pct and represents the biggest rise since May 2004.
