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The Warehouse and Distribution sector may find itself busier as consumer spending could be set to rise, with a new survey showing confidence increasing

Nationwide's Consumer Confidence Index showed a reading of 47 in January, up nine points on December.

Although this was nearly 30 points below the long-term average, it was the best reading for five months and chief economist at the building society Robert Gardener noted there was clearly a greater desire to buy goods, with 40 per cent indicating it was a good time to do so in January, compared with 31 per cent in December.

"Falling inflation and price cuts announced by the UK's big energy suppliers may have left consumers feeling hopeful that the squeeze on household budgets will ease, boosting their spending power,
" he noted.

Inflation is likely to fall further and the Bank of England believes the Consumer Prices Index rate is likely to fall back to its target level of two per cent by the end of this year, as indicated by its governor Mervyn King in a letter to the chancellor this week.

 

Written by Scott Buckler
Friday, 17 February 2012 10:10

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