Consumer confidence 'hits new high'

Consumers' confidence in their financial situation is at its most positive level in over three years, prompting predictions that people will become more willing to splash out on luxuries in the coming months, a report has found.

Lloyds Bank's "spending power" report said its measure of consumer sentiment reached 136 points in March, which is a new series high since records began in November 2010, as more people start to feel "in control" of their money as the pressure on their wallets falls back and they find themselves in a better position to pay off their debt.

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