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Get your free copy09 September 2016, 09:17 AM
- Consumer confidence picked up in August against a dip in the preceding months, according to new figures
The aftermath of the Brexit vote saw more hesitant consumers, however the GfK Consumer Confidence Index showed a five-point increase in August to -7, with all five measures used to calculate the index presenting increases.
The view of the general economic situation over the next year saw the biggest rise, increasing 11 points, from -33 in July to -22 in August.
Joe Staton, head of market dynamics at GfK, said, “We’re reporting some recovery in the index this month as consumers settle into the new wait-and-see reality of a post-Brexit, pre-exit UK.
“The uptick in confidence is driven by good news from hard data, the combination of historic low interest rates matched with falling prices and high levels of employment.”
The report also showed that shoppers were more confident in their personal finance outlook over the next year, which saw a five point increase to +4 in August. In contrast, this is 25 points lower than in August 2015.
