| 13.4°C Belfast

Britons see 'slight improvement' across the board as consumer confidence grows

Close

All five measures of the index - including expectations for personal finances, the general economic situation and big-ticket spending - saw an increase

All five measures of the index - including expectations for personal finances, the general economic situation and big-ticket spending - saw an increase

All five measures of the index - including expectations for personal finances, the general economic situation and big-ticket spending - saw an increase

Consumer confidence rebounded this month amid improved expectations for personal finances and the general economy, figures show.

The long-running GfK Consumer Confidence Index rose two points to minus 10 in August after July's fall to match last year's post-Brexit low.

All five measures of the index - including expectations for personal finances, the general economic situation and big-ticket spending - saw an increase.

Joe Staton, head of market dynamics at GfK, said: "We're seeing an uptick in August among consumers when reviewing their personal financial situation for both the past and next 12 months, as well as a slight improvement in views about the general economic situation of the country as a whole.

"These figures must be seen against the backdrop of better news on inflation, public finances, jobs and growth prospects as the UK economy displays some signs of stability after a volatile start to the year.

"However, the index has a lot of ground to regain to get back to black. So is this month's rise significant? Or could we simply be witnessing a dead-cat-bounce over the dog-days of summer?"

The measure of changes in personal finances over the last 12 months registered the biggest rise of the index of four points to positive two, two points higher than this time last year.

The forecast for personal finances over the next 12 months also increased, by three points this month to positive five - one point higher than last August.

The measure for the general economic situation of the country during the last 12 months increased one point to minus 30, still seven points lower year-on-year.

However expectations for the general economy over the next 12 months have increased one point to minus 27, five points lower than this time last year.