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Consumer confidence poor in November

Consumer confidence has improved slightly but still remains close to record low levels according to the latest GfK NOP survey.

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

Rachael Joy, a member of the Consumer Confidence Index 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 our poor economy in general and mounting concerns about job losses in particular."

Joy added: "The cut in interest rates [to 1.5%] earlier 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."

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