In November, the United Kingdom recorded an increase in consumer confidence.
The mentioned dynamic was fixed after the budget ended uncertainty over the tax and spending plans of the new Labour government of the UK.
Research company GfK said its key sentiment gauge rose by three points to minus 18. The corresponding result is that recently households in the United Kingdom have become more optimistic both about their personal finances and in the context of perception of the overall economic outlook.
It is worth noting that experts interviewed by the media predicted that the mentioned indicator would show a moderate decrease in November.
Neil Bellamy, consumer insights director at GfK, said there had been signs of nervousness in the United Kingdom in recent months as consumers contemplated the potentially worrying impact of the UK budget at home and even the implications of the United States presidential election.
GfK’s major purchases index rose by five percentage points to minus 16 in November. This indicator means that households in the United Kingdom intend to take advantage of Black Friday discounts on big-ticket goods at the end of the month.
At the same time, overall confidence in the UK remains below the mark that was observed in August before the country’s Prime Minister Keir Starmer warned of painful decisions to fix public finances and the difficult path that the economy has to go through. Nowadays, households in the United Kingdom are still lacking a clear feel-good factor.
As we have reported earlier, UK Economy Returns to Growth.
