Consumer morale hits record low – Nationwide | Reuters

Shopper

Reuters – Consumer morale in Britain fell to a record low in October as fears about the euro crisis, rising unemployment and the state of the economy knocked confidence, a monthly survey by mortgage lender Nationwide showed on Thursday.

Nationwide’s consumer confidence index dropped to 36 from 45 in September, the lowest since the survey began in May 2004.

“A wave of disappointing economic news at home and ongoing uncertainty surrounding the Euro crisis have dealt a heavy blow to sentiment,” said Nationwide’s chief economist Robert Gardner.

The survey showed that consumers had become even more cautious about spending. “Nearly half of consumers viewed it as a bad time to make a major purchase in October, compared to a quarter who viewed it as a good time to buy,” Gardner said.

The findings bode ill for retailers’ business during the crucial Christmas shopping period.

via Consumer morale hits record low – Nationwide | Reuters.

Strange Random Shopping Quote:

When women are depressed, they eat or go shopping. Men invade another country. It’s a whole different way of thinking. – Elayne Boosler

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Posted on November 17, 2011, in Article and tagged , , , , , , , , , . Bookmark the permalink. Leave a comment.

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