Nationwide: Consumer confidence increased in June

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Nationwide: Consumer confidence increased in June

Wed 8th Jul 2009

Consumers are slowly but surely regaining their confidence amid the recession, it has been discovered.

According to the latest Nationwide Consumer Confidence Index, there has been a rise in the confidence of Brits, from 54 points in May to 58 points in June.

Consumer confidence is just one point away from hitting the 59 it was recorded at last June.

The index also calculated that the probability of the base rate being raised by a further 0.25 per cent currently stands at five per cent, while it is 95 per cent likely that it will remain at 0.5 per cent.

"Recently, there has been much talk by industry commentators suggesting that the worst of the recession may be over, which appears to have fed into consumer sentiment," chief economist at Nationwide Martin Gahbauer explained.

The British Retail Consortium warned against too much optimism at the increase of consumer confidence in May, highlighting that it does not necessarily point towards financial recovery.

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