Consumer confidence holds steady for November

Date: 9th December 2009

Consumer confidence has remained broadly stable but fears over the current economic conditions have grown, according to new figures from Nationwide.

The building society's overall index, a key indicator of shopper sentiment which impacts on the small business sector, remained at 73 points from October to November 2009.

However, the "present situation" index fell from 22 to 20 during the month.

There was better news on the "expectations index" measuring consumers' future predicted economic performance, which rose from 107 to 108 points.

Commenting on the figures, Martin Gahbauer, Nationwide's chief economist, said: "Confidence remained stable for a second consecutive month in November suggesting that consumer sentiment is holding steady at the end of a volatile year for the index.

At the beginning of 2009 we saw consumer confidence drop to record lows, but we have since seen this index return to pre-recession levels."

Earlier this week, the British Retail Consortium said that like-for-like sales on the high street registered a 1.8 per cent increase between November 2008 and November 2009

Posted by Thomas Fletcher