Rising unemployment and the high cost of living left consumer confidence close to an all-time low in November, according to research released on Tuesday.
The Nationwide consumer confidence index crept up to 40 from its record low of 36 in October, but was still about half its long-term average of 77.
Its findings suggest that households remain under pressure and were concerned about future prospects for themselves and the wider economy amid rising unemployment and the higher cost of living.
There was only a marginal improvement in its spending index, which indicated that shoppers remained reluctant to make major purchases and retailers faced tough trading conditions in the run up to Christmas.
In November's survey twice as many people judged it to be a bad time rather than a good time to make a major purchase.
To add to the gloom, people were also expecting house prices to fall by an average of 1.1% over the next six months, despite recent resilience.
Read more: Guardian
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