Nationwide Consumer Confidence Index recorded a slight increase of one point in July with sentiment remaining stable.

While the Present Situation Index fell one point, this was countered by the Future Expectations Index which increased by one point. The most significant changes in consumer confidence this month are that confidence in spending has fallen and that for the first time for over a year, consumers expect the value of their homes to rise over the next six months

Martin Gahbauer, Nationwide’s chief economist, said: “Consumer confidence remained broadly stable in July