Consumer confidence falls

Consumer confidence has fallen since March according to the latest Consumer Confidence survey,

released today by market research company Nielsen and the British Retail Consortium.

The quarterly survey asks consumers how they feel about spending intentions and major concerns. It shows the confidence index fell two points to 78 in the last three months – the first fall since April 2009.

Prior to this latest survey, confidence levels had made a slow, but steady improvement over the previous four quarters.

Stephen Robertson, British Retail Consortium Director General stated: "Worries about the state of the economy and fears about the direct effect on individuals of austerity measures have halted the revival in customers' mood that had been underway since this time last year. British consumer confidence is below the global average, suggesting we're more unsure about future recovery than other countries."

"But, though confidence has fallen recently, it's well up on this time last year and retail sales have proved reasonably resilient. The impending VAT increase will encourage some customers to buy this side of January.