“Consumers are beginning to feel more positive not only about the future, but also about the present situation,” said Martin Gahbauer, chief economist at Nationwide. “A number of key economic indicators continue to show that we may have reached the bottom of the current recessionary cycle.”The Bank of England's Monetary Policy Committee meets tomrrow and is widely expected to keep interest rates at a record low of 0.5pc as the central bank tries to cement a recovery. Mervyn King, the Bank's governor, has signalled his intent to expand the programme of printing money in a sign he's far from convinced about the durability of a recovery. Nationwide's survey also found that Britons’ assessment of their present situation is brightening, with a measure rising 1 point to 17. A gauge of their willingness to spend also rose to 97 from 96. The survey's index of people's expectations also climbed 3 points to 94. Despite evidence that the economy's sharp contraction has eased, many economists are still expecting a sluggish recovery as banks rein in their lending and consumers struggle with the spectre of unemployment. Further reading: This article confirms other similar articles and economic data that we have published over the last few months, reference to which can be read below:
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