Confidence in the economy rose amongst consumers again this month, with one major index hitting the highest level in nearly a decade, signalling continued growth for the rest of the year. <\/p>\n
GfK\u2019s consumer confidence index rose to one this month, the first time the survey has been in positive territory for almost 10 years and, most importantly, every part of it improved, from personal finances to the economy generally.<\/p>\n
The index was in negative territory for the vast majority of the pre-crisis growth period, and if the score remains positive for three consecutive months, it will be the longest period since 2002.<\/p>\n
Meanwhile, further survey data released this week showed that retailers were at their most optimistic in 12 years about upcoming sales, adding to a raft of positive news about the UK economy.<\/p>\n
The Confederation of British Industry (CBI) released its latest survey, showing the highest optimism about sales during the next three months than at any time since early 2002. More than half the stores surveyed said that sales volumes were up on last year, against just 14 per cent that recorded a decline over the period.<\/p>\n
The optimism amongst retailers and consumers, coupled with further strong gains in employment and a gradual pickup in real pay should provide a boost to spending over the second half of this year. <\/p>\n
However, despite the generally positive news, the British Chambers of Commerce (BCC) has forecast that household consumption would slow markedly in future, from growth of around 2.9 per cent this year to just 2.2 per cent by 2016, and that other sources, such as increased exports and investment, would have to be found for a continued expansion.<\/p>\n","protected":false},"excerpt":{"rendered":"
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