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Consumer confidence rising
British consumers are feeling increasingly positive about the state of the UK economy with confidence approaching the same level as last year, according to the Nationwide consumer confidence index.
The Nationwide index rose from 54 points in May to 58 points in June - just one point below June 2008's figure of 59.
Consumer expectations for the economic situation in six months time were particularly encouraging, with a third expecting the economic situation to have improved by the end of the year.
"Recently, there has been much talk by industry commentators suggesting that the worst of the recession may well be over, which appears to have fed into consumer sentiment," said Martin Gahbauer, Nationwide's chief economist.
Post Date: July 8th, 2009
The Nationwide index rose from 54 points in May to 58 points in June - just one point below June 2008's figure of 59.
Consumer expectations for the economic situation in six months time were particularly encouraging, with a third expecting the economic situation to have improved by the end of the year.
"Recently, there has been much talk by industry commentators suggesting that the worst of the recession may well be over, which appears to have fed into consumer sentiment," said Martin Gahbauer, Nationwide's chief economist.
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Post Date: July 8th, 2009
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