Consumer confidence in the United Kingdom rose sharply in March, according to survey results published Thursday by Nationwide.
The Nationwide Consumer Confidence index rose 9 points to 53 in March from the February reading of 44.
The March reading was the highest since June 2011.
Economists at Nationwide cautioned that the confidence index remains weak when compared to the past.
The report comes a day after the UK's National Statistics office reported that the UK economy slipped into recession in the March quarter, with a GDP contraction of 0.2 percent following a 0.3 percent decline in the 4th quarter of 2011.
by RTT Staff Writer
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