Confidence in economy falls to lowest level

In its latest Consumer Confidence Index, in conjunction with TNS, Nationwide says overall confidence appears to be stabilising as it remains unchanged at 94 points, just one point lower than last year. However it says people are being particularly gloomy about the current state of the economy and the employment situation, causing the index to fall to 89, which is in stark contrast to Spring 2005 when consumers were more upbeat about the situation. Although only around 38% are positive about the economy, Nationwide says there has been a modest increase in the number of people positive ...