Search News

Results: 1-10 of 1085

Start again

20 Sep 2023

ACT members will benefit from a long term discounted commission of just 3%

15 Sep 2023

The team from Whistler Adventure School (WAS), which recently became the only centre in Canada accredited to offer Cytech technical three, is to deliver a series of free sessions in Scotland,...

13 Sep 2023

The recent pledge by police forces across England and Wales to pursue every lead that holds a reasonable chance of apprehending criminals and solving crimes has been welcomed by Bira, which...

12 Sep 2023

A family-run Liverpool restaurant hidden inside a basement is officially Britain's best vegan venue.

11 Sep 2023

A warning has been issued that shoplifters in the UK are becoming increasingly “emboldened” and appear to be often orchestrated by organised criminal groups, which steal to order,...

11 Sep 2023

It has been suggested that some shop owners may be unaware or unprepared for the upcoming change to regulations on single-use plastics on plates, bowls, trays, containers, cutlery and balloon...

30 Aug 2023

Allwyn, incoming operator of The National Lottery, has urged independent National Lottery retailers to log on to its new online retailer portal via 

30 Aug 2023

Shop owners have expressed scepticism that the Home Secretary's recent call for every theft to be investigated by the police will come to fruition, suggesting that police resources are already...

29 Aug 2023

Consumer confidence is showing “renewed optimism” against a backdrop of falling core inflation, new figures suggest.

29 Aug 2023

Shop owners in a part of Coventry have rallied together to launch a street market, with hopes of boosting the number of people that visit the area.

Back to news menu

Consumer confidence shows ‘renewed optimism’ against falling core inflation

Posted on in Business News

Consumer confidence is showing “renewed optimism” against a backdrop of falling core inflation, new figures suggest.

Consumer cash

GfK’s Consumer Confidence Index improved five points in August, with all measures reversing the drop seen in July, although it remains firmly in negative territory at minus 25.

Confidence in the general economic situation for the next twelve months increased by three points to minus 30 – 30 points better than last August – against a backdrop of falling core inflation, higher interest rates and rising average weekly earnings, GfK said.

The forecast for personal finances over the coming year increased four points to minus three – 28 points higher than this time last year.

Meanwhile, the major purchase index – a measure of confidence in buying big-ticket items rose eight points to minus 24, 14 points higher than this month last year.

Joe Staton, client strategy director at GfK, said: “Although the headline figure remains strongly negative at minus 25, hopes for our personal financial situation for the coming year are heading back towards positive territory, a metric that is key to indicating the future financial position of households.

“This renewed optimism can also be seen in the similar turnaround for our view on the general economic outlook for the next 12 months, and the eight-point advance in major purchase intentions is potentially better news for retailers as we move into autumn.

“However, while the financial pulse of the nation is still weak, these signs of optimism are welcome during this challenging time for consumers across the UK.”

Linda Ellett, UK head of retail and leisure consumer markets for KPMG, said: “Consumer price inflation is slowing, but costs remain elevated and will continue to test many household budgets for months to come.

“This prolonged pressure has already led nearly 40% of consumers that KPMG surveyed to buy more value produce this year, with the same amount buying more promotional items. Plus a third of consumers reported they are shopping at lower-cost retailers or buying lower-cost branded goods.

“These actions have helped some households to manage their budget and will continue to do so, but other consumers still face far more significant price hikes in the likes of mortgage or rent – which are far harder to manage and will inevitably impact consumer spending further.”


Back to news menu

Useful links

If you have any other queries please contact us.