Bank of America Survey: UK Unemployment Rate Expected to Decline, Consumer Confidence Rebounding

FXStreet News on March 6th, Jin Shi Data: The Bank of America UK Consumer Confidence Survey shows that the UK's February unemployment rate is expected to drop by 5.6 percentage points. Bank of America said: 'We did not anticipate a significant slowdown in the labor market. The improvement in unemployment expectations supports this view.' The survey also shows that consumer confidence has increased by 3 percentage points, indicating that spending may rise. 'The recovery of confidence, more importantly, the reduced concerns about unemployment, provides preliminary evidence that consumer spending may recover,' Bank of America said.