No end in sight for UK's gloom

United Kingdom consumer confidence was unchanged this month as efforts by the Government and the Bank of England to pull the economy out of a recession failed to lift sentiment, GfK NOP said.

An index of sentiment stayed at -29, the London-based research group said in a report.

The gauge has been in a range of -29 to -31 for the past seven months.

A measure of Britons' outlook for the economy over the next 12 months rose 1 point.

"Things are looking very bleak for the Government," said Nick Moon, GfK Social Research managing director. The failure of the index to improve "is a clear indication that all attempts by the Government to improve the situation in the UK aren't making any impressions on the public mood".

Data last week showed the economy shrank the most in more than three years in the second quarter, while reports this week showed retail-sales growth slowed and mortgage approvals dropped to the lowest in 18 months.

The central bank, which is pumping money into the economy, introduced a programme with the Treasury last month to boost lending to households and companies.

The opposition Labour Party has said the Government's fiscal squeeze is to blame for Britain's economic slump.

A YouGov Plc poll published in the Sunday Times newspaper put Labour at 42 per cent, ahead of Prime Minister David Cameron's Conservatives at 33 per cent.

A measure of the outlook for the economy over the next 12 months increased to -30 in July from -31 in June, though that's 3 points below the July 2011 figure, GfK said.

An index of the assessment of the economy over the previous year slipped 1 point to -59 and a measure of the climate for making major purchases rose 2 points to -26.

A gauge of how Britons see their personal financial situation over the next year rose 1 point to -8.

GfK interviewed 2002 people from July 6 to July 15.

"The UK is now stuck in the worse double-dip recession since modern records began," Moon said.

"Consumer confidence remains as stagnant as the economy."

- Bloomberg