Pressure mounting on BoE as consumer confidence dives

The lender’s Consumer Confidence Index fell by 4 points to 94 in February, and is 16 points down on a year ago. Nationwide claims individuals are taking an increasingly pessimistic view of the economy and labour market. The main Nationwide Consumer Confidence Index fell from 98 to 94 in February and is now sitting just above its all time low of 92 seen in October 2005. This is also the first time the main index and the three supporting indices have all shown falls since the index began in May 2004. In addition to the monthly falls, all but the Spending Index are now below their 3 month av...