U.K. Consumer Confidence Falls on Economic Growth Outlook

“U.K. consumer confidence fell in April as Britons grew more pessimistic about the outlook for the economy and spending,Nationwide Building Society said.

An index of sentiment slipped to 43 from a revised 45 in March, when it rebounded from a record low, the customer-owned lender said in an e-mailed report today. A gauge of whether now is a good time to make major purchases dropped 5 points to 62.

U.K. unemployment claims rose at their fastest rate since January 2010 last month, underlining the fragility of the economic recovery as government spending cuts and quickening inflation sap household confidence. The economy stagnated in the six months through March and Bank of England officials yesterday said an interest-rate increase now could damp consumer spending.”

Full article