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Consumers confident despite Osborne warning

Public Shoppers, Consumers Confident in 2016 amid Osborne Warning - Santander UK

Consumers have begun 2016 in confident mood as the outlook for jobs improves and the cost of a weekly shop is held down by low petrol prices and competition among supermarkets. The latest business trends report by BDO says consumers are 'enjoying their best start to the year since the financial crisis and are contributing to an upbeat business outlook'. Businesses across the UK are upbeat about their prospects after a strong rise in workloads led to organisations in all regions taking on extra staff during December, according to a monthly survey by Lloyds Bank. Lloyds said the rate of hiring slowed from November, but its index of business activity for England, which combines the manufacturing and service sectors, was 55.5 in December, indicating 'a solid rate of expansion overall'. The best performing regions were London, the east of England and the southeast, which had its fastest growth since April. The slowest expansion in output was seen in Yorkshire and Humber, where the business activity index slipped to a near three-year low of 52.5.

 

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