Consumer confidence fell in February to its lowest since records began in 2004, a survey showed last Friday, fuelling doubts about the strength of economic recovery and the central bank's ability to raise rates soon. Nationwide Building Society's consumer confidence index fell to 38 last month, its lowest since the survey began in May 2004, after another sharp drop to 48 in January. The record fall was driven by a steep decline in the index that measures consumers' expectations for the British economy in six months. That fell to 50 in February, from 64 in January. The spending component, which gauges people's appetite for buying household goods and other major purchases, tumbled even further, down 18 points to 52 from 70. The gloomy survey highlights the dilemma facing the Bank of England as it debates when to raise rates from a record low of 0.5% to try to curb inflation running at 4%, double its target. Added uncertainty about the global economic outlook in the wake of the recent massive earthquake and tsunami in Japan has prompted financial markets to push back expectations for a UK interest rate rise until August, from as early as May previously.