UK consumer confidence bounces back

| January 18, 2011 | 0 Comments

The latest survey from the Nationwide Building Society has revealed an improvement in UK consumer confidence for the month of December after three months of falls.

The building society’s consumer confidence index rose to 53 in December, up from 45 in November - which represented the lowest reading since March 2009 - when the economy was in the midst of recession.

December’s reading beat analysts expectations of 49 but the index is still way below its average of 81.

According to the Nationwide, consumers are feeling slightly more positive about the economy and the jobs market.

In the meantime, the Nationwide said the expectations index also saw a big improvement, rising by 12 points, while the spending index jumped by 10 points.

Commenting on the report, Robert Gardner, Nationwide’s chief economist, said, “While the up-tick is encouraging, household confidence nevertheless remains subdued, reflecting ongoing uncertainty about the economic outlook.”

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