Consumer confidence 'has returned'

03 March 2010

Written by Jeni Browne

Business mortgage holders may be pleased to hear that consumer confidence is returning to the market.

According to Nationwide's Consumer Confidence Index, there was a six point rise last month.

This also means that there is more confidence in the market than there has been since January 2008.

Chief economist for the bank Martin Gahbauer said: "Consumers have started this year in a more optimistic fashion with February's figures showing a surge in confidence in both the present and future situation."

Despite a slight drop at the end of last year, the market is now looking good.

Mr Gahbauer explained that the news that the country had emerged from recession seems to have boosted consumers.

He added that it is "crucial" that people are confident so that Britain can recover from the economic downturn.

At the start of the year it was announced that the UK had emerged from recession following figures from the final quarter of 2009.

However, it was by a narrow margin and there have been fears that the country could face a 'double-dip' recession.

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