According to the Nationwide Building Society, consumer confidence in the UK fell to a three month low last month, As Britons grew more pessimistic.

An index of sentiment declined 2 points to 49 from June's 51, the lowest reading since April, while market expectations were 46 also a gauge of consumers' future expectations for the economy in the next six months slipped 3 points to 67.

After the U.K. suffered its worst rioting since the 1980s and the deepening debt crisis in Europe alongside a cooling global economic recovery confidence could be pressured to drop further Nationwide said. The faltering recovery in the UK outweighed the risk of inflation, the thing that made The Bank of England keep its benchmark interest rate at a record low this month.