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U.K. consumer confidence fell to its lowest level in almost four years in March 2008, as the housing downturn continued to weigh on consumer sentiment, Bloomberg News reported Wednesday.

Britain's Nationwide Building Society's index of sentiment declined one point to 77, its lowest level since records started in May 2004. The result is based on a survey of 1,204 people conducted by Taylor Nelson Sofres from February 18 to March 20, 2008.

U.K. housing sector weighs

Economist Mark Chandler, based in London, told BloggingStocks Wednesday the fall in housing prices is beginning to weigh on U.K. consumer confidence. The average home price in the United Kingdom fell 2.5% in March 2008 to 191,566 pounds or $379,000, according to a survey by mortgage lender HBOS Plc., according to Bloomberg.

Continue reading U.K. consumer confidence plunges to 4-year low as home prices fall

U.K. consumer confidence plunges to 4-year low as home prices fall originally appeared on BloggingStocks on Wed, 09 Apr 2008 14:55:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>credit marketshome priceshousinghousing sectorinthenewsNigel LawsonUnited KingdomWed, 09 Apr 2008 14:55:00 EST