Consumer confidence still poor in November

Consumer confidence rose by just one point to -35 in November, the report found.

Confidence in big-ticket purchases such as furniture and electrical goods climbed four points to -39, which remains 32 points lower than this time last year.

Rachael Joy, from the Consumer Confidence team at GfK NOP, said: “The Consumer Confidence Index has improved marginally this month, but continues to languish at near record lows. UK consumers are still being battered by news about the poor economy in general and mounting concerns about job losses in particular.”

She added: “The dramatic cut in interest rates this month appears to have done little to improve sentiment so far, as UK consumers continue to fret over the impact of a looming recession. Consumers are treading water and waiting for the economy to stabilise after what has been a turbulent few months.”