CONSUMERS in Kent and south east are more worried than elsewhere about their spending power, according to a new survey.

Nationwide Building Society’s quarterly consumer confidence index reveals today (Jan 21) that the region is the least confident in the UK for the second quarter in a row.

Research among 400 consumers in the county and beyond shows confidence in present and future economic prospects falling by seven points in the fourth quarter of 2007, an all time low for the region.

Only 30 per cent of people in the South East are positive about the current economic situation and less than one in ten - seven per cent - are confident about the future.

Confidence about making major purchases such as a house or a car fell for the third consecutive quarter by five points to an all time low. Just one in eight people - 12 per cent - in the South East are positive about making such a purchase.

Sentiment among people buying household items such as a fridge or washing machine also fell for the third consecutive quarter, but this time by seven points – making the South East one of the least confident regions in the UK. Only a third - 34 per cent - believe it is a good time to buy.

However, nearly 60 per cent are confident about the availability of jobs, although a large minority - 41 per cent - are worried about the future employment situation.

Nationwide spokeswoman Rosemary Callender said: “Continued uncertainty in the financial markets, record oil prices, rising food prices and slowing house price growth all seem to have contributed to a deterioration in people’s confidence over the past three months.

“While overall confidence is at a similar level to December 2006, there has been a much sharper fall in the fourth quarter than at the same time last year. Consumers remain cautious about spending with confidence in making both major and household purchases at an all time low.