Consumer confidence increased by three points in November to reach -44, according to new data from GfK.
The Overall Index Score shows all measures of confidence were up in comparison to last month’s announcement (21 October).
Joe Staton, Client Strategy Director at GfK, said: “This month’s fillip is likely to reflect nothing more than a collective sigh of relief as a new Prime Minister takes charge following the alarming fiscal antics we saw in September. This is not the end of the beginning. External factors have changed little and, with UK inflation recently hitting a new high, more bad news is inevitable.
“Household budgets remain shrouded in massive uncertainty with fresh jumps in food prices, energy still uncomfortably expensive, the prospect of new interest rate rises pressurising mortgage and rent payments, potential future hikes in council tax and squeezed real pay. Consumers are looking for a festive cocktail of certainty and optimism not this mishmash of austerity and pessimism. Good news remains in short supply as many people struggle to manage the purse strings during this protracted and painful cost-of-living crisis.”
This month’s survey was conducted among a sample of 2,000 individuals aged 16-years-old and over.
