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September 9, 2009

Nationwide: consumer confidence still rising

by Richard Kilner

Story link: Nationwide: consumer confidence still rising

Consumer confidence is continuing to rise, according to the Nationwide’s Consumer Confidence Index.

Confidence has marginally increased to 63 in August, up by two points.

However, consumers remain wary of making big-ticket items, with the number who would consider purchasing a house or car drifting downward from 35% to 33%.

Chief Economist Martin Gahbauer explained that the results signify not only an increasing confidence about the future, but also rising optimism about the present.

Greater confidence may be due in part to the news that a number of major economies, including France, Germany and Japan, confounded expectations and pulled themselves out of recession.

Confidence in Nationwide itself is also holding up, as it held onto its place in the 2009 list of Top 50 Safest Banks by Global Finance Magazine.

From the UK, only HSBC managed to join Nationwide, with taxpayer-supported banks Lloyds and RBS dropping out of the listing.

 

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