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Increased consumer confidence good for contractors and small businesses

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Small businesses owners, contractors and freelancers operating in a number of industries in the UK will be encouraged by a recent report regarding consumer confidence. The latest Confidence Index by building society Nationwide showed that consumer confidence increased by five points to 61 last month – and this increase means that confidence has definitely recovered some ground.

Commenting on this increase, Mark Saddleton, Nationwide’s head of economic and market analysis, said, “The main driver behind the increase in August has been an uplift in confidence towards the future situation, in particular consumer expectations of future economic circumstances.” Another report, the Nationwide Expectations Index, also improved – moving seven points to 84, following a 43-point decline over the previous five months.

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