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Consumer confidence highest for a year

Consumer confidence in September rose to its highest level since April last year, according to data released by Nationwide.

The Building society's monthly consumer confidence index rose by six points in September to 71, taking it to 24 points higher than it was this time last year.

The survey also revealed that 39% of respondents think that the economy will have significantly picked up in six months time, compared to just 17% that thought this at the start of the year.

However, Mark Saddleton from Nationwide warned that consumers would be slow to act on improvements to key economic indicators.

"Consumers' assessment of the present situation is still fairly downbeat and, while they do appear to be optimistic for the future, it is likely that any recovery will continue to be sluggish as they adapt to the economic environment," said Mr Saddleton.

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Post Date: October 7th, 2009