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Consumer confidence rises for third month

16/07/2009

The latest Consumer Confidence Index from Nationwide Building Society has shown another rise in June, up to 58 from 54 in May.

As well as the rise in overall consumer confidence, Nationwide also reported rises in confidence regarding consumer spending and expectations for the future. However, confidence regarding the present situation suffered a slight fall.

Martin Gahbauer, Nationwide`s chief economist, said: "During June, consumers` confidence continued to gradually increase - a trend which has been seen for the last three months. 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."

A spokesperson for Debt Advisers Direct said: "Consumer confidence has been relatively low up until recently, partly due to things like reduced job security and the high numbers of people getting into trouble with debt.

"However, after three consecutive rises in consumer confidence, we may be seeing the beginning of a recovery, although it will take a few months before we can say for certain."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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