Nationwide index: Consumer confidence increasing

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Nationwide index: Consumer confidence increasing

Confidence among consumers in the UK is on the rise, according to the results of the latest Nationwide Consumer Confidence Index.

The index rose by two points last month, compared to a much sharper rise in April, which could be due to warnings in the media that the finance and property sectors should not become over-optimistic about recovery at this point.

Further indices keeping track of expectations and spending were found to have increased respectively to 76 and 101 points.

Nationwide's chief economist Martin Gahbauer stated: "The more modest change in overall consumer confidence this month is no surprise and, as we continue to see contrasting news about the […] economy, it is likely that confidence will remain fragile."

In April, the index improved by two points - up to 75 from 73 in March

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