UK consumer confidence at 20-month low

Consumer confidence fell to a 20-month low during November as people became increasingly pessimistic about the future of the economy, research showed today.

Nationwide said its expectations index, which measures people's optimism towards the economic situation in six months' time, dived by nine points during the month to 61, its lowest level since March 2009 and more than 50 down on where it stood in November last year.