Consumer morale 'falls again'
Overall consumer morale has fallen to a four year low - with many found to be not in the mood to spend last month.
According to the latest survey from loans lender Nationwide, overall consumer confidence fell from 78 to 77 on the index.
This is the lowest single figure since the survey began in 2004.
Fionnuala Earley at Nationwide blamed the credit crunch for the apparent drop-off in morale.
"The downturn in consumer confidence over the last six months is not surprising given developments in the financial markets and a weakening housing market," she said.
"The effect of recent interest rate cuts has yet to trickle through to people's pockets, particularly as food and energy costs are still high."
The Bank of England is expected to reduce interest rates by a further 0.25 per cent later this week - a move which could serve to increase consumer spending.
Send this article to:
