Consumer confidence fell back by four points last month, according to the Nationwide Building Society’s Consumer Confidence Index for June 2011.
This followed on from a significant rise of 11 points seen in May, and, according to the Nationwide, demonstrates that consumer sentiment was notably affected by the extended bank holiday season, warm weather and the Royal Wedding during that period.
WIth less for consumers to cheer in June, the Index fell back to reduce the gains made in the previous month. At 51 points, the Index now stands 11 points lower than at the same time last year, and 28 points below its long-run average.
Mark Saddleton, Nationwide’s head of economic and market analysis, said: “Confidence returned to a more subdued level in June as the Index again failed to build any sustained momentum to lift it from its current low level.