At least the US experienced a promising rise in consumer spending. Also inventory lists have fallen dramatically meaning that firms may be forced to start increasing stock. This would lead to rising output.
In the UK, consumer confidence improved to the best levels since August 2007 and problems of Northern Rock. A study by GfK NOP found consumers’ economic expectations for the next year is still in negative territory at -15, but this reflects an improvement of 16 points from -31 in March. This increase in confidence has occured despite rises in unemployment and falling average wage growth. (maybe the survey was taken on a sunny day?)
- Implications of 2009 Budget (with video)