UK consumer confidence remains in the doldrums

MORALE amongst high street shoppers remained in a slump last month, a survey revealed yesterday, yet any fears of a double-dip recession appear to have been dispelled.

The Nationwide consumer confidence index came in at 42 last month, slightly down from March’s reading and 32 points lower than the same time last year.

“Clearly, consumers are still feeling downbeat about the current situation and there is little to suggest that they expect things to improve much over the coming months,” said Nationwide economist Robert Gardner.

“Yet recent figures showing that the economy returned to growth in the first-quarter of 2011 helped allay fears that the UK is heading back into recession,” Gardner added.