SPENDING has risen at its fastest rate for nearly a year, giving rise to hopes that consumer confidence is improving.
Figures released by the Office for National Statistics (ONS) showed that household expenditure grew at 0.5 per cent between July and September, driven mainly by spending on goods.
However, the ONS made no change to its estimate that the economy grew by 0.4 per cent in the third quarter, although the year-on-year figure was revised up to 1.7 per cent from 1.6 per cent.
Economist Gavin Redknap, at Standard Chartered, said the figures provided at least some hope that the worst may be over for consumers.
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