Consumer confidence increase 'not marker of financial recovery'

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Consumer confidence increase 'not marker of financial recovery'

Although consumer confidence was found to have improved by a recent index, this should not be taken as a sign of economic recovery.

This is a warning from the British Retail Consortium (BRC) following the latest Nationwide Index, which revealed that consumer confidence rose from 51 to 53 points last month.

Richard Dodd, head or media and campaigns for the BRC, said: "That isn't the basis of a sustained recovery though because that's a one off phenomenon each year."

He added that only time will tell "whether the growth that we've seen over the last month or two is sustained" and the pressures on the economy are eased.

According to the Nationwide consumer confidence survey, 28 per cent of respondents believe that the current economic outlook will be better in six months time.

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