Confidence jumps to nine month high

Nationwide Building Society says that their Confidence Index increased by nine points in March to 53, a nine month high and seven points higher than the same time last year. The main index remains 23 pints below its long run average of 76. Robert Gardner, Nationwide's chief economist, said: "Much of the survey-based data has painted a more upbeat picture of the UK economy than official data in recent months - March's Consumer Confidence index continues that trend. The main Index jumped nine points in March, which is at odds with the challenging economic backdrop, with the UK economy tipping back into recession in the first three months of the year. The full survey can be viewed here: http://goo.gl/JRBcH April 27, 2012