Consumer confidence at 18-month high

Published on Tuesday 6 October 2009 21:32

CONSUMER confidence jumped to an 18-month high during September, following recent reports that the worst of the recession may be over, research has revealed.

Nationwide said its consumer confidence index rose by six points during the month to reach its highest level since April 2008 and stand 24 points higher than it was a year earlier.

The lender suggested the improvement was down to a raft of recent reports suggesting the economy may be picking up, as well as house price rises and strong stock market gains.

All of the group's sub-indexes increased during the month, with its expectations index up nine points to its highest level since December 2005.

Nearly four out of ten people expect the economic situation to be better in six months than it is now, the highest level since the index began in May 2004, while the proportion of people who think there will be fewer jobs available dropped to 50 per cent from 56 per cent in August.