Debt still keeping consumers gloomy

According to Nationwide, its latest consumer confidence index is still “well below” the two-year average despite a slight increase, with debt worries helping to contribute to this pessimism.

“Consumer confidence remains low and, despite improving, has not recovered fully since the slump reported last month,” said Stuart Bernau, Nationwide’s executive director.

“The economic picture continues to look unsettled. While petrol prices have fallen and there has been some good news from car manufacturers, utility bills are still on the rise.”

Discovery of low consumer confidence is of little surprise considering the recent Datamonitor report which showed that Britons were the most indebted people in Europe.

However, debt help is available for people who are concerned about the amount they owe, whether big or small and could make a difference in the near future.