Consumer morale near 2-year low in November

StevieJ

I am not sure what is new about the ConDem cuts, maybe some people are just slow on the uptake.

LONDON (Reuters) - Consumer morale plunged in November (Berlin: NBXB.BE - news) to its lowest since the UK was in the depths of recession, as the announcement of government spending cuts raised fears over the future, a survey showed on Friday.

http://uk.finance.yahoo.com/news/Consumer-morale-near-2-year-reuters_molt-4012479399.html?x=0

chucky

we're in this together.

whatever happens is good for us!??

pinkteapot

Does anyone know what questions they ask on the survey?

StevieJ

pinkteapot wrote: »

Does anyone know what questions they ask on the survey?

http://www.nationwide.co.uk/NR/rdonlyres/BFA1E543-8A2D-4F48-A068-D4F09681FD10/0/ConsumerConfidenceNovember2010.pdf

http://www.nationwide.co.uk/consumer_confidence/latest_release/default.htm

Loughton_Monkey

Consumer confidence has fallen to its lowest level in almost two years, on the expectation that the economy will weaken over the next six months and spending cuts will make it harder to find a job.

Nationwide's index of sentiment fell seven points from October to 45, its lowest level since March 2009.
The building society's expectation index, which measures optimism about where the economy will be in six months' time, fell nine points to 61, some 50 points lower than in November (Berlin: NBXB.BE - news) last year and also the lowest since March 2009.

A higher number of people think the economy will be worse in six months time than it is now, and fewer think there will be jobs available.

"The strong rally in sentiment that took place from the middle of 2009 into the first quarter of this year has now been almost completely reversed, even though the recovery has been stronger than most observers had expected," said Martin Gahbauer, Nationwide's chief economist.

"Just as the improvement in sentiment was driven by a renewed hope for the future, the fall in confidence can largely be attributed to consumers growing increasingly cautious over the outlook for the next six months. It seems that people still feel downbeat about their own situation," he added.

Nothing to do with morale at all.

That will be measured in the upcoming ConDem "Happiness Index". The question will be:

How happy are you with the Government. Please tick the appropriate box.

1. Deleriously Ecstatic
2. Extremely Happy
3. Quite Happy
4. Mildly Happy

Really2

Consumer moral as low as when Labour were in power then. But there were no cuts then.;)

wymondham

Loughton_Monkey wrote: »

Nothing to do with morale at all.

That will be measured in the upcoming ConDem "Happiness Index". The question will be:

How happy are you with the Government. Please tick the appropriate box.

1. Deleriously Ecstatic
2. Extremely Happy
3. Quite Happy
4. Mildly Happy

I am 3 on most weekdays, getting to a 2 or even 1 on a friday afternoon!

StevieJ

Really2 wrote: »

Consumer moral as low as when Labour were in power then. But there were no cuts then.;)

You easily forget when the world was in meltdown and we were advised that all assets should be converted into tins of beanz and a Kalashnikov, oh and gold coins for trade. It is worse than then :eek:

nearlynew

Maybe people are just starting to get a whiff of the coffee that has been brewing for ages.

tomterm8

Really2 wrote: »

Consumer moral as low as when Labour were in power then. But there were no cuts then.;)

Err, given that the world trade credit market was imploding, and we had the most severe recession since the 1960's, it is hardly a ringing endorsement of government policy that consumer confidence is only as low as under the labour government.

Really2

tomterm8 wrote: »

Err, given that the world trade credit market was imploding, and we had the most severe recession since the 1960's, it is hardly a ringing endorsement of government policy that consumer confidence is only as low as under the labour government.

How does Europe look compared to then?
I take it we are out of the woods then as this is now the government and nothing to do with the on going financial crisis?;)
Why people go about ConDem cut's is beyond me, they are enforced cuts by our deficit.
Trying to blame the current government for them ignores the deficit we racked up pre-bust and the cuts that were going to come if Labour where in power.
Are people really suggesting things would be so much different and better if Labour where in power?