Consumer confidence reaches six-month high

Consumer confidence has risen once again and is now at a six-month high, according to Nationwide Building Society.

In its Consumer Confidence Index release for May, Nationwide said consumer confidence reached 53 points, up from 51 in April. It was the second consecutive monthly rise.

28% of those questioned said that they thought the economy would be in a better position in six months` time, which was the highest-yet response to this question, according to The Telegraph.

A spokesperson for debt management company Gregory Pennington said: "The latest consumer confidence figures may suggest that people are becoming less worried about things like debt, costs of living, and so on.

"However, there`s no guarantee that the economic situation will improve, and we advise consumers to ensure that they are financially prepared for whatever the future may hold. For some people, avoiding debt - or clearing existing debts - may be the best way of doing this."

---

Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.