Thursday, 28 November 2013




UK CONSUMERS QUESTION THE ECONOMY FOR A SECOND STRAIGHT MONTH
British consumers became less confident in November for the second consecutive month, figures from the European Commission showed Thursday, a development that could deepen concerns about the prospects for the U.K.'s economic revival, which has thus far relied on consumer spending.


The commission's survey of consumers in the U.K. resulted in a confidence gauge of -2.9 in November, down from -2.1 in October and -1.0 in September.

Prior to that, confidence levels had risen consistently since May, reflecting a recovery in the U.K. economy in the first nine months of the year that has placed it as one of the best-performing developed economies.
The recovery has been fueled by consumer spending, figures from the Office for National Statistics showed this week.

Evidence of worsening confidence during the first two months of the fourth quarter may raise concerns that consumer spending is faltering. A survey of British retailers this week also showed minimal sales growth in October and November.

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