UK consumer confidence remains low

UK consumer confidence has continued to remain close to the record low this month, as the pessimism that surrounds the economy remains in the minds of shoppers.

A recent study by Gfk NOP revealed that consumer confidence is similar to what was experienced during the last recession.

The fall in consumer confidence will mean that consumers in the UK are likely to continue to be tentative and will adjust their standard of living during this downward spiral.

With the nationalisation of Bradford & Bingley and the rescue of HBOS, it seems as though the government is taking steps not only to keep the financial sector stable but also to reassure voters.

Despite this, however, the threats to the economy do still remain as the current financial crisis is still hitting the foundations of many large British Institutions.

House prices are similarly dropping at a steady rate that is also furthering the toil of the UK voter, due to the struggle to meet rising food and energy bills, as well as fighting off inflation.

However it seems as though the figures are unlikely to have any affect on the Bank of England who are due to reassess a cut in interest rates over the next few months.

As the economy teeters towards a recession it seems as though any decision that is due to the made by the BoE will be very important in raising the depression.

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