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Consumer confidence hits two-year high
UK consumer confidence has risen to the highest point for two years, according to a survey by Nationwide.
Nationwide's consumer confidence index increased by six points to 80 during February, and now stands at its highest level since January 2008.
Expectations over the future of the economy reached a new high, with 39% of those questioned believing that the economic situation would be better in six months time, a 3% rise from January.
Confidence in the jobs market also hit its highest level since December 2008, with a quarter of people believing there to be many or some jobs available.
"Following a small dip at the end of 2009, consumers have started this year in a more optimistic fashion with February's figures showing a surge in confidence in the present and future situation. A strong influencing factor behind this uplift is likely to be the news that the UK has come out of its longest recession on record," said Martin Gahbauer, Nationwide's chief economist.
Post Date: March 3rd, 2010
Nationwide's consumer confidence index increased by six points to 80 during February, and now stands at its highest level since January 2008.
Expectations over the future of the economy reached a new high, with 39% of those questioned believing that the economic situation would be better in six months time, a 3% rise from January.
Confidence in the jobs market also hit its highest level since December 2008, with a quarter of people believing there to be many or some jobs available.
"Following a small dip at the end of 2009, consumers have started this year in a more optimistic fashion with February's figures showing a surge in confidence in the present and future situation. A strong influencing factor behind this uplift is likely to be the news that the UK has come out of its longest recession on record," said Martin Gahbauer, Nationwide's chief economist.
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Post Date: March 3rd, 2010
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