Retail paralysis grips further ? BUSINESS POSTS .co .uk

Data published today indicates that UK consumer confidence decreased further last month.

People are purchasing less and there are fears that this will worsen the fragile state of the UK economy, according to building society Nationwide?s consumer confidence index. The index fell by two points to 49 in July ? well below its long-run average of 79 and not far above February?s all-time low of 41 points.

Consumers? assessment of their present situation was unchanged from June, but they took a gloomier view of the future.?Price inflation, higher taxes, slow wage increases and people?s uncertainty about their job security are all compounding the miserable outlook.

?It is unlikely that we will see any considerable improvement in confidence in the remainder of 2011,? said Robert Gardner, Nationwide?s chief economist.?Gardner added that there will likely be ?a further deterioration in August, following riots in a number of UK cities and sharp declines seen in stock markets around the world?.

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Source: http://businessposts.co.uk/2011/08/25/retail-paralysis-grips-further/

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