onsumer confidence is continuous to rise towards a backdrop of falling inflation – however many households are persevering with to battle with cost-of-living pressures, based on a survey.
GfK’s long-running Client Confidence Index elevated 4 factors in September, however stays at a subdued minus 21.
Expectations for the UK’s wider economic system over the subsequent 12 months noticed a strong six-point improve to minus 30, 44 factors larger than final September.
Confidence in private funds for the approaching yr registered a marginal one-point improve to minus two, which is now 38 factors larger than this time final yr.
With fewer than 100 purchasing days to Christmas, retailers can be relieved to see a four-point increase to the foremost buy index, a measure of confidence in massive ticket purchases, taking it to minus 20 and 18 factors larger than a yr in the past.
Joe Staton, shopper technique director at GfK, mentioned: “Towards the backdrop of falling inflation figures, progress in wages and excessive rates of interest, UK client confidence rose this month to minus 21, the perfect recorded exhibiting since January 2022.
“Whereas this month’s improved headline rating is nice information, it’s vital to notice many households are nonetheless combating the cost-of-living disaster and that financial circumstances are robust.
“The fact is that client confidence stays suppressed, and the monetary temper of the nation remains to be adverse.”