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UK consumer confidence increasing | UK consumer confidence increasing |
(9 minutes later) | |
UK consumers were more optimistic about the future than they have been in more than a year, according to the Nationwide Consumer Confidence index. | |
The index rose to 63 in August from a revised 61 the previous month, the highest since May 2008. | The index rose to 63 in August from a revised 61 the previous month, the highest since May 2008. |
The survey suggests consumers have a greater willingness to spend. | The survey suggests consumers have a greater willingness to spend. |
But many are still downbeat about their present employment and economic circumstances, with more than 70% describing it as "bad". | But many are still downbeat about their present employment and economic circumstances, with more than 70% describing it as "bad". |
"The rise in positive sentiment across all the indices is no surprise as a number of key economic indicators continue to show that we may have reached the bottom of the current recessionary cycle," said Nationwide's chief economist Martin Gahbauer. | "The rise in positive sentiment across all the indices is no surprise as a number of key economic indicators continue to show that we may have reached the bottom of the current recessionary cycle," said Nationwide's chief economist Martin Gahbauer. |
Its expectations index - which explores how people about the economy and their own personal finances in six months time - rose to 94 last month from 91, the highest since September 2007. | Its expectations index - which explores how people about the economy and their own personal finances in six months time - rose to 94 last month from 91, the highest since September 2007. |