Consumer hopes improve
London - Arabstoday
UK consumers shrugged off gloomy economic data and fears over the eurozone this month as a survey revealed a boost in confidence. Market research firm GfK NOP said consumer confidence rose two points to minus 29 between April and May, as hopes for the next 12 months improved, but the negative figure still means overall sentiment in the UK is pessimistic.The rise came as a surprise as official figures last week showed the recession is deeper than previously thought, with gross domestic product shrinking 0.3% in the first quarter.
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