Consumer confidence climbs in June
Consumer confidence has jumped in June to reach its highest level in over 15 years.
According to data released by GfK in its latest Consumer Confidence Barometer, consumer confidence rose by six points in the month to 7.
Joe Staton, head of market dynamics at GfK, said: "We’re seeing a dramatic uptick in confidence this month, a real post-election bounce that’s put a spring in the step of consumers across the UK. June’s six point jump takes the Overall Index Score back to levels not seen since the late Nineties or early days of the Noughties."
While the forecast for personal finances over the next 12 months rose by two points to 5, the index measuring expectations for the general economic situation over the next 12 months rose by four points to 4.
Meanwhile, the climate for major purchase index powered ahead by 14 points to reach 16 which GfK said could translate into a busy time for retailers.
Staton added: "Across all key measures we’re reporting higher levels of financial optimism for both our own personal situation and for the general economy as a whole for the coming 12 months."
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