Consumer confidence near to all time low

It has been recently reported that the Nationwide Consumer Confidence Index has fallen for the forth consecutive month.  It stands at only 4 points higher than the level recorded in February 2011, which was the lowest on record.  The fall of 10 points in September, is well below the level that was recorded in September 2010.

The survey also showed that 80% of households believe there will be no improvement over the next six months.

The report has increased fears of another credit crunch, tipping the economy back into recession.

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