Consumer confidence on the rise, report shows

Date: 14th April 2011

Small businesses operating in the UK could be among those encouraged by the findings of a recent report into consumer confidence.

According to figures published by Nationwide, last month saw a slight turnaround on the "dismal" start to the new year.

The latest Consumer Confidence Index from the organisation showed that March saw confidence pick up from the record lows recorded in the previous month.

However, Robert Gardner, Nationwide's chief economist, said despite the rise, the UK is still seeing low levels of confidence.

"While this is a welcome change in direction, we must remember that the Index remains at a historically low level and the up tick in March failed to reverse the fall suffered in the previous month," he commented.

"With the recovery still proving sluggish, it is unlikely that we will see a significant improvement in the coming months. It is far more likely that confidence will remain subdued for several months yet until the economy gains greater momentum."

Posted by Jacob Williams