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Consumer confidence continues to improve

customerConsumer confidence has reached a record high as the pressure on household wallets continues to ease, according to new research.

The Lloyds Bank Spending Power Report has found that consumer confidence rose to 138 points in April 2014 – the highest recorded index since the survey began in November 2010.

“Continuing gains in consumer sentiment mirror the ongoing improvements in the UK economic backdrop. Meanwhile, reduced pressure on consumer wallets from essential spending, strong growth in employment, and looking ahead, a pick-up in wage growth, are likely to boost spending power, improving the capacity of consumers to undertake discretionary spending.” Said Patrick Foley, chief economist at Lloyds Bank.

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