Survey shows consumer confidence at highest in years
The proportion of UK consumers willing to spend money is at a record level as confidence soars to a nine-year high, according to new figures.
And the number of people who believe the UK is in a recession is at its lowest point on record, while positivity about job prospects and personal finances are both at their highest level for seven and a half years, the figures from Nielsen show.
The UK Consumer Confidence Index hit 97 in the first quarter of this year, the highest point since it reached 101 in the first quarter of 2006 when Tony Blair was in his third term as Prime Minister.
Consumer positivity about job prospects increased for the eighth consecutive quarter.
The number of consumers who believe that now is a good time to make purchases rose three points to 45% - the highest level since the question first appeared.
Nielsen UK managing director Steve Smith said: "Consumer confidence in the UK continues to rise.
"The UK is one of the fastest growing major economies, unemployment is falling and people are benefiting from zero inflation and lower prices in supermarkets and petrol stations.
"While the majority of people are still cost-cutting - perhaps habitually now - wages, for others, are rising faster than household expenses."