The latest consumer survey shows that consumer confidence has reached its highest level in over two years, with particular optimism regarding disposable income, further suggesting that the UK economy is accelerating its recovery.
Official data previously released showed that UK wage growth in February was 1.7%, consistent with the inflation level for that month.
The rebound in confidence has led to increased consumer spending on "big-ticket" items, such as holidays and electronics. The agency expects this trend to continue throughout the year.
The survey also found that as consumer confidence rises, respondents are more optimistic about their personal financial situations, as they anticipate tax cuts and an increase in their property values.
