Consumer confidence down 46%

Nationwide says gloomy economic data, falling house prices, job losses and the rising cost of living are among consumers’ main concerns. The Consumer Confidence Index fell from 62 points in June to 51 points last month, a fall of 18%. Confidence is now 46% lower than a year ago, the largest falls ever recorded. Two thirds of people believe the current economic situation is bad, while a staggering 85% believe things will be worse in six months time. The rapid deterioration follows two months of relative stability in consumer opinions, possibly due to rapid house price falls and heavy job...