Wednesday, March 5, 2008

They think it’s all over

Consumer confidence falls to record lows as house price expectations fall

"The continued downward trend in consumer confidence is to be expected given the effect of higher food and fuel costs on people's pockets and the tightening of the availability of credit. In addition, growing uncertainty about future economic conditions is also likely to have affected consumers' overall sentiment. Despite this consumers remain relatively positive about their employment situation both now and in six months time. It is perhaps too early for the base rate reduction at the beginning of February to have had any effect, but it is unlikely in current conditions that consumer confidence will return to the highs of 2007." - Martin Gahbauer, Nationwide's senior economist:

Posted by converted lurker @ 12:32 PM (438 views)
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One thought on “They think it’s all over

  • It’s only because most have massive debts and/or huge mortgage.

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