Consumer confidence climbs in August
UK consumer confidence increased this month as consumers felt more upbeat about the economic situation and their personal finances.
GfK’s latest Consumer Confidence Barometer shows that the headline index rose by three points to 7 in August.
Joe Staton, head of market dynamics at GfK, said: “Rising house price inflation and improving employment growth prospects, combined with falling petrol prices and day-to-day living costs, as well as low interest rates, are translating into high levels of confidence across all major measures.
“Confidence in the future for both our personal financial and general economic situation for the next 12 months remains strong – consumers now believe that UK economic recovery is robust, we’re in the black and that prospects for growth are fact and not fiction.”
While the forecast for personal finances over the next 12 months rose by 1 point to 7, the index measuring expectations for the general economic situation over the next 12 months increased by four points to 3.
Meanwhile, the climate for major purchase index climbed by six points to 17. This is 18 points higher than this time last year.
