Consumer confidence in the U.K. unexpectedly improved in August, nearly reversing July’s drop, a signal that pressures on household spending may be easing as inflation ticks down, according to a survey published Friday. Confidence among consumers rose five points to minus 25 this month, from minus 30 in July, according to an index compiled by consumer-research firm GfK. The result was better than a consensus of economists polled by the Wall Street Journal, which expected the level to remain at minus 30.
Against a backdrop of falling inflation, higher interest rates and rising weekly earnings, consumer confidence has regained momentum this month, said Joe Staton, Client Strategy Director at GfK. Headline inflation eased to 6.8% in July from 7.9% in June, while core inflation, which excludes volatile food and energy prices, remained flat. Meanwhile, average weekly earnings overtook the inflation rate in the three months to June, rising 7.8% on year. All five components measured in the survey–including respondents’ feelings about their personal financial situation and the wider eco …
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Against a backdrop of falling inflation, higher interest rates and rising weekly earnings, consumer confidence has regained momentum this month, said Joe Staton, Client Strategy Director at GfK. Headline inflation eased to 6.8% in July from 7.9% in June, while core inflation, which excludes volatile food and energy prices, remained flat. Meanwhile, average weekly earnings overtook the inflation rate in the three months to June, rising 7.8% on year. All five components measured in the survey–including respondents’ feelings about their personal financial situation and the wider eco …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]