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Consumer confidence decreases throughout September
With the UK economy continuing to suffer dark times within the UK, consumer confidence continued to maintain its downward trajectory as the Nationwide Consumer Confidence index for September
As the Labour market continues to deteriorate throughout the country, Britons worry over the fate of the Euro and with energy bills rising significantly, it is no surprise that consumer confidence is at its lowest levels for a considerable period of time.
Although these relatively downbeat findings may be deemed understandable through the difficult economic backdrop within the UK and with the economy hardly growing throughout 2011, suitable deals can still be found for the right client.
Nationwide’s chief economist – Robert Gardner – has claimed that: “Without strong growth, the UK labour market is unlikely to improve in the immediate future. This appears to be a view shared by most households - just one in five believe there will be an improvement over the next six months leading to many or some jobs being available. The difficult jobs market situation is likely to continue to weigh heavily on confidence in the months ahead.”
It should be noted however that nearly 25% of those questioned for the consumer confidence survey have claimed that now is an excellent time to make a large purchase, such as purchasing property or a car. Although this is at odds with the difficult economic outlook with high inflation worrying British individuals, if the finance is available and with property prices starting to rise once more now could be a great time to find a good mortgage deal from a mortgage broker.
After assessing the findings Gardner also claimed; “Interestingly, there was very little change in consumers' views towards the future state of the economy, despite the gloomy headlines evident in recent months. But this is probably a reflection of their already low expectations - just 15% of people believe there will be an improvement in the economy over the next six months.”
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