Nationwide predicts volatility in consumer confidence

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Nationwide predicts volatility in consumer confidence

Fri 14th May 2010

Consumer confidence statistics in the UK could be volatile over the next few months as the strength of the coalition government is determined, a spokesperson for Nationwide has stated.

Mark Saddleton, head of economic and market analysis, made his comments following the publication of the Nationwide consumer confidence index for April, which rose by one point compared March.

He explained that the public has maintained a reserved outlook, since confidence is still fragile from the recession and there is still a certain degree of political uncertainty around.

"Further increases may be muted as consumers wait to see what impact a hung parliament and the deficit reduction plans of a new government will have on the economy and employment situation," noted Mr Saddleton.

The Nationwide consumer confidence index for March showed that people were uncertain about the employment situation in the country, but they were beginning to feel better about spending.

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