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Consumer confidence drops

UK consumer confidence fell in April indicating that recovery is “a long way away” after three months of stability.

Consumer confidence dropped one point to -27 in April according to the GfK Consumer Confidence Barometer, as three of the five measures recorded decreased in confidence this month.

GfK managing director of social research Nick Moon said: “The fall back, even by only one point, implies the recovery in confidence has stalled, and a real recovery looks a long way away.”

The index measuring changes in personal finances during the past 12 months decreased four points to -24, which is a point lower than in April 2012. The forecast for personal finances over the next 12 months fell one point to -7 but this remains six points higher year on year.

The measure for the general economic situation of the country in the past 12 months increased one point to -53, which is four points higher than a year ago. The forecast for the situation over the next 12 months increased one point to -26, which is seven points higher than last year.

The climate for major purchases declined by two points in April to -25, which is five points higher than last year. Meanwhile, the savings index stayed the same at -23, which is five points lower than in April last year.

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