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Consumer confidence rises
Consumer confidence in the UK economy improved in August for the first time in five months, according to the GfK NOP Consumer Confidence Index.
Consumer confidence increased by four points in August - the first time since February that confidence has risen.
August saw increases for confidence in consumers personal financial situation over the last 12 months and confidence in the general economy in the next 12 months.
"Overall consumer confidence has been in constant decline for the last five months and a further fall would have made a double-dip recession seem a very real prospect. The government will undoubtedly read these figures with a great deal of relief," said Nick Moon, MD of GfK NOP Social Research.
"The single biggest improvement has been in confidence in the economy over the next 12 months and this looks particularly encouraging on first sight. However, this gain merely reverses a similarly large drop in July and in reality confidence in the economy's future prospects remains below its June level and similar to May 2009 when we were still in the grips of a recession."
Post Date: August 31st, 2010
Consumer confidence increased by four points in August - the first time since February that confidence has risen.
August saw increases for confidence in consumers personal financial situation over the last 12 months and confidence in the general economy in the next 12 months.
"Overall consumer confidence has been in constant decline for the last five months and a further fall would have made a double-dip recession seem a very real prospect. The government will undoubtedly read these figures with a great deal of relief," said Nick Moon, MD of GfK NOP Social Research.
"The single biggest improvement has been in confidence in the economy over the next 12 months and this looks particularly encouraging on first sight. However, this gain merely reverses a similarly large drop in July and in reality confidence in the economy's future prospects remains below its June level and similar to May 2009 when we were still in the grips of a recession."
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Post Date: August 31st, 2010
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