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• Brown dismisses housing crisis fears (09 04 2008 10:15)
• Mortgage hope offered by bank (09 04 2008 10:15)
• Consumer morale 'falls again' (09 04 2008 10:15)
• Bristol & West withdraws deals (09 04 2008 10:15)
• Retirees feel 'unhappy due to no longer working' (09 04 2008 10:15)
• Severn Trent to be fined £36m (08 04 2008 04:15)
• Brown to announce first time buyers help (08 04 2008 04:15)
• UK bank details 'for sale by thieves' (08 04 2008 04:15)
• Last 100% mortgage to disappear (08 04 2008 04:15)
• High earners 'shut out of market' (08 04 2008 04:15)

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Consumer morale 'falls again'

Overall consumer morale has fallen to a four year low - with many found to be not in the mood to spend last month.

According to the latest survey from loans lender Nationwide, overall consumer confidence fell from 78 to 77 on the index.

This is the lowest single figure since the survey began in 2004.

Fionnuala Earley at Nationwide blamed the credit crunch for the apparent drop-off in morale.

"The downturn in consumer confidence over the last six months is not surprising given developments in the financial markets and a weakening housing market," she said.

"The effect of recent interest rate cuts has yet to trickle through to people's pockets, particularly as food and energy costs are still high."

The Bank of England is expected to reduce interest rates by a further 0.25 per cent later this week - a move which could serve to increase consumer spending.

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