Tag Archives: Consumer Confidence

UK Consumer confidence slumps … were they all in Newcastle on Tuesday

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According to the latest GfK NOP survey, consumer confidence slumped in January as households worried about economic prospects for the year ahead. Household spending will be under pressure in 2011 as real incomes fall and discretionary income will be further squeezed by the January VAT increase.
The Bank of England still believes inflation will fall to target as the soup kitchens undermine retail food prices. And the Governor, still believes the economy is rebalancing towards net exports and away from consumption.
As a result of inflation and low earnings, real wages will be no higher than in 2005 and “one has to go back to the 1920’s when real wages fell over a period of six years.” said the Governor. As Tolstoy or Macmillan may have said “you’ve never had it so bad”. It certainly didn’t sound good.
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UK Consumer confidence slumps as they hear from the Governor …

Posted on by
6a0120a69fe94e970c0148c81a2ec2970c-320wi.png

According to the latest GfK NOP survey, consumer confidence slumped in January as households worried about economic prospects for the year ahead. Household spending will be under pressure in 2011 as real incomes fall and discretionary income will be further squeezed by the January VAT increase.
The Bank of England still believes inflation will fall to target as the soup kitchens undermine retail food prices. And the Governor, still believes the economy is rebalancing towards net exports and away from consumption.
As a result of inflation and low earnings, real wages will be no higher than in 2005 and “one has to go back to the 1920’s when real wages fell over a period of six years.” said the Governor. As Tolstoy or Macmillan may have said “you’ve never had it so bad”. It certainly didn’t sound good.
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