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British consumer confidence declines

Source : IANS
Last Updated: Wed, May 01, 2013 06:30 hrs

London, May 1 (IANS) Consumer confidence in Britain unexpectedly declined in April as inflation kept running above the Bank of England's (BoE) target, increasing households' concern about their person finances, said GfK, a London-based research group.

A sentiment index by GfK fell one point to minus 27, versus minus 26 the month before. A gauge of how consumers see their finances over the next year fell to minus 7 from minus 6, according to a survey report released by GfK, reported Xinhua.

Nick Moon, managing director of social research at GfK, said: "A move up would suggest that the index had indeed 'paused for breath' after its rise at the end of 2012 and was still heading in the right direction."

The decline "implies the recovery in confidence has stalled, and real recovery looks a long way away", said Moon.




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