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Consumer confidence 'on the decline'

Consumer confidence has fallen significantly over the past quarter, Standard Life's Savings & Investment Index has shown.A score of 11 in October 2007 fell to just three in January 2008 - both figures well down on October 2006's high of 23.Poll respondents were asked on whether or not they would like to invest their money in a variety of sectors in order to compile the index.Director at Standard Life Allison Crawford said: "This latest research sits against the backdrop of recent turmoil in the market and clearly reflects the uncertainty in people's minds around their savings for the future."It's important that people don't lose their nerve because of the current market volatility."The tentative mood of consumers was further revealed by the high popularity of so-called 'risk-free' investments.Cash ISAs were seen as a good investment by 86 per cent of people.

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