U.K. Consumer Confidence Rises as Job Security Strengthens
U.K. consumer confidence rose in September as the recovery strengthened and households became less concerned about job security, the Centre for Economics and Business Research said.
The group’s gauge of sentiment increased to 108.1 from 106.7 in August, it and YouGov Plc (YOU) said in a report in London today. Its measure of job security was at 91.1, up from 87.3 at the start of the year.
The CEBR said the improvement in the index indicates the economy is now in a sustained recovery. The statistics office will publish its third estimate of second-quarter gross domestic product later today, which is forecast to confirm a 0.7 percent expansion. The report will also include data on consumers’ disposable income and the savings ratio.
“The present recovery is now broader based than the false dawn we saw in 2010,” said CEBR Chairman Douglas McWilliams. “Given this continued momentum, we would expect growth next year to be its strongest since 2007 -- before the financial crisis crippled the real economy.”
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