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Confidence falls back in April

The main Confidence Index fell by nine points in April, erasing the gains recorded the previous month.
The main Index is more than 30 points below its long run average.
All indices saw a deterioration, with the largest decline seen in the Expectations Index (-13).
News of recession may dent confidence next month, while the Queen’s Jubilee and Olympics is likely to lift spirits over the summer.

Nationwide Confidence Barometer

Nationwide confidence barometer

About this report

Robert Gardner, Nationwide’s Chief Economist, said:

“The main Consumer Confidence Index has see-sawed in recent months, with alternating rises and falls since September last year. Nevertheless, the index has consistently remained well below its long-run average, signalling ongoing caution on the part of UK consumers.

“It is not surprising that confidence remains fragile, with the economy shrinking over the past six months and labour market conditions still weak. The main bright spot for households over the past six months has been the sharp decline in inflation from 5.2% last September to 3.5% in March, which has helped to provide some support to purchasing power.