Report: Consumer confidence in Britain rises in June but remains cautious

The Associated Press ~ staff The News
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LONDON - Consumer confidence in the United Kingdom rose in June as a growing number of people said they expected better times by the end of the year, the Nationwide Building Society said Wednesday.
The bank's consumer confidence index, based on opinion polling, rose to 58 in June, up from 54 in May and the high level since October.
A third of the sample believed the economy would be better in six months, the highest figure in a year, though 42 per cent expect no difference and 23 per cent thought it would be worse.
"For the first time since the launch of the consumer confidence index in May 2004, more people expect the economic situation in six months time to be better than believe it will be worse," said Martin Gahbauer, Nationwide's chief economist.
"However, the strongest belief by consumers is that the economy will be the same in six months time. This expectation of a plateau in economic conditions has grown steadily over the last year."
TNS interviewed 1,000 people between May 18 and June 21, and the survey had a margin of error of plus or minus 3 percentage points.

Organizations: Nationwide Building Society

Geographic location: United Kingdom, LONDON

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