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(CEP News)- UK consumer confidence fell to 50 in November, despite forecasts for a decline to 54, according to a report from Nationwide released Tuesday evening.
October's score of 55 was revised up to 56. Now close to the holiday season, the spending index led the rise, jumping to 64 from 56. The expectations index fell to 63 from 70, and the present situation index declined to 30 in November from 35. Non-seasonally adjusted consumer confidence index fell to 53 from 62, and the non-seasonally adjusted 3-month average held steady at 56. On Thursday, the Bank of England is expected to lower its benchmark interest rate by 100 basis points to 2.00%, as global financial markets continue to struggle as a result of the credit crisis. By Megan Ainscow,
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