Consumer confidence on the rise says Nationwide
by Richard Kilner
Story link: Consumer confidence on the rise says Nationwide
Nationwide Building Society’s latest Consumer Confidence Index has measured a six point rise in consumer confidence, taking the index to 80, the highest level since January 2008.
In addition, the Expectations index reached its highest ever level (115) following a six point climb.
The Present Situation index increase by four points to 27, whereas the Spending index declined by the same amount to 93.
The percentage of those who believe the economic situation will be better in six months’ time has increased to 39, having been 36 in January.
For the first time since September 2008 the proportion of those who think there will be few or not many jobs available in six months’ time has fallen below 50%, to 43%.
Chief Economist Martin Gahbauer has said that optimism has triumphed over the small confidence dip at the end of last year and that now people have greater confidence in both the present and future.
The end of 2009 confidence dip has been attributed to the end of the Christmas sales and withdrawal of the lower VAT rate, which increased back to the standard rate of 17.5%.