Confident Consumers Ignore Downturn Threat
Tuesday, August 31, 2010 7:15
Consumer confidence has been in constant decline for the last five months, and a further fall would have made a double-dip recession seem a very real prospect. However, a new survey suggested that the consumer confidence in the UK economy improved in August for the first time in five months. In spite of the possibility of a double-dip recession, people’s perception of both their own finances for the coming year and the general economy had improved. It is said that the government will undoubtedly read these figures with a great deal of relief. The Consumer Confidence Index increased by 4 point to -18. But economists warned that the level of spending were not likely to grow at a similar rate as austerity measures laid out in the June Budget kick in.
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