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Small improvements in expectations could "hardly be described as festive cheer"
- Robert Gardner, chief economist at Nationwide
U.K. consumer confidence rose in November as consumers became more optimistic on the outlook of the country's economy, said the Nationwide Building Society on Tuesday. An index of sentiment gained to 40 points from 36 points in October.
"Consumers remain under pressure and concerned about future prospects, both for the wider economy and their own financial position," said Robert Gardner, Nationwide's chief economist.
"With unemployment also rising sharply in recent months, it's not surprising that consumers' assessment of their current situation remains close to all time lows," added Mr. Gardner.