The monthly economic index provided by GfK, which delivers a view of UK consumers’ sentiment towards the economy, would appear to reflect these predictions of a sustained return to growth as respondents report their most positive economic outlook since 2007.
While the current figure remains negative, at -10 in September, this has improved rapidly from lows of -27 seen as recently as April this year. These results show that there remains significant room for improvement, particularly when it comes to household incomes which continue to be squeezed by a significantly higher rate of price inflation, but they do signal that UK consumers are feeling increasingly confident and more likely to make significant purchases.
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