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onsumer confidence is constant to rise in opposition to a backdrop of falling inflation – however many households are persevering with to battle with cost-of-living pressures, in response to a survey.
GfK’s long-running Consumer Confidence Index elevated 4 factors in September, however stays at a subdued minus 21.
Expectations for the UK’s wider financial system over the following 12 months noticed a strong six-point improve to minus 30, 44 factors increased 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 increased than this time final yr.
With fewer than 100 buying days to Christmas, retailers will probably be relieved to see a four-point increase to the foremost buy index, a measure of confidence in large ticket purchases, taking it to minus 20 and 18 factors increased than a yr in the past.
Joe Staton, consumer technique director at GfK, mentioned: “Against the backdrop of falling inflation figures, growth in wages and high interest rates, UK consumer confidence rose this month to minus 21, the best recorded showing since January 2022.
“While this month’s improved headline score is good news, it’s important to note many households are still struggling with the cost-of-living crisis and that economic conditions are tough.
“The reality is that consumer confidence remains suppressed, and the financial mood of the nation is still negative.”
