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gruffydd

Consumer Confidence Plunges To New Low

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http://www.mfgonline.co.uk/news/newsarticl...p?unqueid=15171

"Nationwide: Consumer confidence hits new low

The Nationwide Building Society has revealed consumer confidence has hit a new low.

But spending confidence hints at stronger retail sales

*The Nationwide Consumer Confidence Index fell by 2 points in October to 92, a new low

*The main index has fallen by 16 per cent over the last 6 months

*Nationwide’s Spending Index suggests retail sales will improve

*Consumers increasingly confident of house price growth

*Confidence falls for third consecutive month

The fall was driven by fading confidence in the economy and the labour market. The index has now fallen for three consecutive months and by 17 points since April. The longer term trend is also down, with the 3-month average falling from 98.3 to 95.3, indicating a significant weakening in consumer sentiment.

BUT

October’s numbers suggest there are signs that consumers’ confidence in the housing market is returning. 41 per cent of people think that house prices will rise over the next six months, the highest proportion since August 2004, when the annual rate of house price inflation stood at 18.9 per cent. Consequently, the Consumers’ House Price Forecast has risen to 2.9 per cent, from 2.1per cent last month.

It is likely that recent positive news has boosted confidence in the housing market. "

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BUT

October’s numbers suggest there are signs that consumers’ confidence in the housing market is returning.

they cant have it both ways. they always add a 'but houses are sailing along nicely' bit.

i dont think so.

what they are telling us is that Mr H Gorbisham is turning his nose up at the bowyers brand premium pork pies in favour of the tesco brand saving 15p, but not that bothered about paying more tha £100,000.00 extra for any old house he happens to buy.

i dont subscribe to these figures.

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they cant have it both ways. they always add a 'but houses are sailing along nicely' bit.

i dont think so.

what they are telling us is that Mr H Gorbisham is turning his nose up at the bowyers brand premium pork pies in favour of the tesco brand saving 15p, but not that bothered about paying more tha £100,000.00 extra for any old house he happens to buy.

i dont subscribe to these figures.

How can the public be down on the economy and their prospects but still think that the house market will keep rising to new highs - sounds like wishful thinking to me!!!

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  • 331 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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