Wednesday, February 6, 2008
Setting the scene for the Great High Street Cull
Consumer confidence, as measured by a popular survey conducted by Nationwide, fell to its lowest level in January since May 2004 when it was first conducted. The number of people confident about the outlook for jobs fell to 36 per cent of those surveyed from 44 per cent last month, despite official data showing UK employment at record levels. Moreover, there is growing gloom over prospects for house prices, with a general expectation of a 0.2 percentage point drop in house values over the coming six months against an expectation of a 0.7 percentage point rise in December.