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0:23, Wednesday 3 March 2010
LONDON (Reuters) - Consumer confidence hit its highest in two years in February and people were their most optimistic about the coming six months since records began, a survey showed on Wednesday. The Nationwide Building Society's consumer confidence index rose 6 points to 80 in February, almost double what it was a year ago and the highest since January 2008.
Another index gauging people's confidence about the present rose to its best since December 2008 at 27.
Confidence about the coming six months was its highest since the survey started in May 2004, with an index reading of 115.
Nationwide chief economist Martin Gahbauer said the surge in confidence may have been a reaction to news that Britain had emerged from its deepest recession since modern records began.
However, the survey was conducted before official data showed the economy grew by 0.3 percent in the final three months of 2009, better than the 0.1 percent growth first estimated in January.
WALOFS - Exactly who are the Nationwide talking to?
Everybody I speak to is either not working, worried about redundancy and think things are going to get worse.
Emperors new clothes
LONDON (Reuters) - Consumer confidence hit its highest in two years in February and people were their most optimistic about the coming six months since records began, a survey showed on Wednesday. The Nationwide Building Society's consumer confidence index rose 6 points to 80 in February, almost double what it was a year ago and the highest since January 2008.
Another index gauging people's confidence about the present rose to its best since December 2008 at 27.
Confidence about the coming six months was its highest since the survey started in May 2004, with an index reading of 115.
Nationwide chief economist Martin Gahbauer said the surge in confidence may have been a reaction to news that Britain had emerged from its deepest recession since modern records began.
However, the survey was conducted before official data showed the economy grew by 0.3 percent in the final three months of 2009, better than the 0.1 percent growth first estimated in January.
WALOFS - Exactly who are the Nationwide talking to?
Everybody I speak to is either not working, worried about redundancy and think things are going to get worse.
Emperors new clothes
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Big H
I would say that more people are optimistic now than pessimistic. I have talked to many busness peop,le over the past 6 months , and they seeo be more confident now than they have for a while.
The Sun is out
Change of Governemnt
World Cup
Lowest Interest rates in history
4 big reasons why things are going to improve
I would say that more people are optimistic now than pessimistic. I have talked to many busness peop,le over the past 6 months , and they seeo be more confident now than they have for a while.
The Sun is out
Change of Governemnt
World Cup
Lowest Interest rates in history
4 big reasons why things are going to improve
well what happens when the sun goes in (like today) and we get knocked out of the WC?
If this is indeed the case, all it proves is that there are more consumers on class A drugs than we ever suspected.
Chisel
I'm all for being optimistic.
But please let's be realistic at the same time.
We've just got a finger in the dyke really.
Systemic problems are not really being solved from a long term perspective.
The PIGS crisis is surely going to get a lot worse, and the end game is not at all clear.
I'm still pretty anxious about the whole state of affairs personally, both in Europe and the U.S.
Its hard to really know how best to protect one's wealth in today's markets.
Nothing really seems to offer a true safe haven.
I'm all for being optimistic.
But please let's be realistic at the same time.
We've just got a finger in the dyke really.
Systemic problems are not really being solved from a long term perspective.
The PIGS crisis is surely going to get a lot worse, and the end game is not at all clear.
I'm still pretty anxious about the whole state of affairs personally, both in Europe and the U.S.
Its hard to really know how best to protect one's wealth in today's markets.
Nothing really seems to offer a true safe haven.
Consumer confidence doesn't mean sh*t. The average consumer does not have a clue about what's coming.
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