Latest Release
Confidence slides for third consecutive month in July
- Consumer confidence continued to fall during July with the index dropping by seven points to 56
- The Expectations Index saw the biggest fall in July, dropping by 13 points
- Consumers’ faith in the spending situation also deteriorated during July with the Spending Index decreasing by three points
Nationwide Confidence Barometer
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Martin Gahbauer, Nationwide's chief economist, said:
"Consumers continued to show caution towards the strength of the economic recovery during July. The index has now seen three consecutive months of decline and this has largely been fuelled by uncertainty as to what the next six months hold. In particular, there appears to be a growing concern among consumers as to their level of disposable income in the months ahead. July will have been a time for many consumers to reassess their individual circumstances following the Chancellor’s emergency Budget, and inflationary pressures such as rising food and fuel costs may now be leading to more negative sentiment among consumers as they start to feel the pinch on their spending power."
"Consumers continued to show caution towards the strength of the economic recovery during July. The index has now seen three consecutive months of decline and this has largely been fuelled by uncertainty as to what the next six months hold. In particular, there appears to be a growing concern among consumers as to their level of disposable income in the months ahead. July will have been a time for many consumers to reassess their individual circumstances following the Chancellor’s emergency Budget, and inflationary pressures such as rising food and fuel costs may now be leading to more negative sentiment among consumers as they start to feel the pinch on their spending power."