Consumers are showing renewed resilience and confidence is rising, new research reveals.
GfK’s long-running Consumer Confidence Index shows confidence increased five points to -25 in August. All five measures of confidence were up on last month’s figures.
Joe Staton, Client Strategy Director GfK, said: “Against a backdrop of falling core inflation, higher interest rates and rising average weekly earnings, the Consumer Confidence Index has regained momentum this month with a welcome five-point improvement.
“Although the headline figure remains strongly negative at -25, hopes for our personal financial situation for the coming year are heading back towards positive territory, a metric that is key to indicating the future financial position of households.”
The UK Consumer Confidence Barometer was conducted among a sample of 2,001 individuals aged 16-years-old and over.
