Marks and Spencer profits tonic for UK economy

Rising house prices and profits in some sectors are fuelling hopes of recovery in the UK economy.
The prospect of better times is further supported by a new survey from the Nationwide Building Society showing consumer confidence at its highest level since April 2008.

One of the country’s biggest home builders has reported growth in sales while high street retailer Marks and Spencer posted better-than- expected profits for the first half of the year.

Net income was at around 220 million euros by the end of September, exceeding analysts predictions by some 20 million euros.

Hopes of a quick recovery in the British economy were dealt a blow by gloomy results last month. The latest signs are encouraging, but companies and analysts remain wary.

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tags: economic growth, United Kingdom