Nationwide Consumer Confidence – the United Kingdom is a leading economic indicator for United Kingdom economic growth. It measures the level and intention of consumer sureness in economic activity. It forecast consumer spending, which plays an essential role in overall economic growth.
Nationwide Consumer Confidence – the United Kingdom drops to -34 points in May 2020 from -33 points in April 2020. It is recorded lowest reading since 2009 due to rules of social distancing in coronavirus pandemic. The consumer confidence continued bruised and battered regardless of efforts at relaxing the COVID-19 restrictions.
The report of nationwide consumer confidence is released monthly usually on Wednesday formerly monetary policy committee declares its base rate decision. The reading higher than expected taken as positive/bullish for GBP, while lower than expected are taken as negative/bearish for GBP traders.