Wednesday, October 7, 2009

Consumer Confidence in UK Reaches Its 18-Month High

According to U.K. Nationwide Building Society, consumer confidence index rose to 71, its highest point for the last year and a half. Such an increase adds to recovery signs showing that the U.K. economy is on its way to complete growth.
Tomorrow Bank of England is supposed to announce its further direction of the monetary policy probably keeping its benchmark interest rate at its current low in spite of all signs that the recession fades away.

Economic reports last week appeared to deliver positive information. Thus, U.K. house prices have already reached its last year levels showing the end of shrinking in house sector. Consumer spending rose by 3 percent to 103 level.

Some positive news from labor market in Great Britain: the measuring of hiring for jobs inclined to 51.3 in September, from 50.6 in August.

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