Consumer confidence fell to a 20-month low during November as people became increasingly pessimistic about the future of the economy, research shows.

Nationwide said its expectations index, which measures people’s optimism towards the economic situation in six months’ time, dived by nine points during the month to 61, its lowest level since March 2009 and more than 50 down on where it stood in November last year.

The fall was driven by a nine-point jump in the number of people who think the economy will be worse in six months’ time than it is today, while there was also an 8% fall in the proportion of people who think there will be many or some jobs available.

But consumers are also pessimistic about the current economic situation, with 69% of people saying they think it is bad, 5% more than during October. The number of people who believe there are not many jobs available also rose by 6% to 64%.

…more at The Evening Standard

Reader comments

1. Liberal Conspiracy

   Consumer confidence falls to a 20-month low http://bit.ly/gE14Mp

2. Ulrike Singer-Bayrle

   RT @libcon: Consumer confidence falls to a 20-month low http://bit.ly/gE14Mp

3. Michael Hanley

   RT @libcon: Consumer confidence falls to a 20-month low http://bit.ly/gE14Mp

4. Bored London Gurl

   RT @libcon: Consumer confidence falls to a 20-month low http://bit.ly/gE14Mp

5. Wendy Maddox

   Especially with the permanent VAT rise to 20% in New Year! : RT @libcon: Consumer confidence falls to a 20-month low http://bit.ly/gE14Mp