15 September 2010 12:20
UK shoppers are more optimistic than ever about the economy, according to the latest index.
Nationwide has found that the expectations register of its consumer confidence survey has hit 84 points in August.
This is a seven point rise on July's figure and a recovery from the 43 point decline seen between February and the end of the second quarter this year.
Spending confidence was also at a high, increasing by four points to 98.
Commenting on the figures, the lender's economic analyst Mark Saddleton said that the September index would give a better indication of the coming economic outlook.
"Downward pressure is likely to be placed on confidence in the shape of speculation over public spending cuts, a stuttering housing market and a difficult job market, but positive retail sales on the high street and a continued low base rate may help to stem any further falls", he commented.
Posted by Stanley Jack